Gold

There is no big news to report that is driving gold and silver today.

Gold tested resistance again, which may have tipped technical movements into the fundamental side of influences, that is, a steady pressure.

A few modest concrete events this week will serve to keep a lid on gold, especially, as the weekend approaches.

The least surprising aspect about today's jump in gold prices is not the fact that investors leapt at the bargain price presented at approximately 1311. That would be relatively predictable, especially given what we've been saying about technical support.

We end the week in gold within a couple of dollars of where we began. It was a defensive week for gold bulls and the battle ended up a draw as there was plenty of probing to see where support and resistance would establish themselves.

This weeks Bonus content is a webinar which explains how our trading system was created. It will give you insight behind the system we use, and how it was developed. Please enjoy this webinar

Wishing you as always, good trading,

Yesterday we laid out a number of events or releases of news that we thought could move gold. Well, lo and behold, we got one today. We said yesterday, "A good or bad word from a maverick member of the Fed..." might be one of those forces.

The centipede has a hundred feet, give or take. When shoes start dropping, well, everything goes crazy in centipede land.

Fundamental players in gold trading are waiting for any one of dozens of shoes to drop, although right now, all footwear seems to be remaining firmly in place.

Remember 1992? Clinton elected; the senior Bush was ending his term of office. The Millennial Generation newborns (now in their 20s and 30s) were in the midst of their own particular baby boom. Yugoslavia began to break up. Russia and the U.S. stopped targeting each other's cities with nukes.

And, housing was booming, despite a recession.

Summer is a time of doldrums, as we've noted since the inception of The Gold Forecast. One never knows when traders are going to lie back against the haystack with a blade of straw in their teeth and snooze away a day. Especially Fridays and Mondays, the days that the trading herd uses to extend its weekends.

Fundamentally speaking, it's a good sign that gold prices were trimmed only a bit today. Even better - silver kept rising.

It means there is faith in the precious metals and traders and investors are trying to clarify whether there is a longer-term bull charging or if, as we say in today's title, it is a lonely little bull.

Fundamentally speaking, it's a good sign that gold prices were trimmed only a bit today. Even better - silver kept rising.

It means there is faith in the precious metals and traders and investors are trying to clarify whether there is a longer-term bull charging or if, as we say in today's title, it is a lonely little bull.