Commodity Trade Mantra

Posts Tagged ‘Goldbugs’

The Medium-Term Gold Market Outlook Deteriorated Substantially Last Week

While the long-term outlook for gold could hardly be better, the short to medium-term outlook deteriorated substantially last week, with an important chart reversal on Thursday that was not negated by Friday’s bounce-back. Gold reversed violently intraday to close well down on Thursday on high volume, leaving behind a classic “shooting star” reversal on its chart.

Gold, Governments and Central Banks

Governments and central banks are frequently criticized by goldbugs for being anti-gold. Examples include the Indian government restricting gold import, the US government refusing to carry out a full audit of the US Treasury’s gold holdings and the Swiss government and central bank strongly opposing the “gold initiative” demands.

UBS Investigated For Gold Manipulation- Gold Inquiry Goes Beyond London Fix

A number of authorities are reportedly investigating manipulation of precious metal prices. UBS will take appropriate action with respect to certain personnel as a result of its ongoing review. The last time the CFTC did an “in depth” investigation of manipulation in precious metals, it found – nothing.

Gold Is On Sale - So Is It Time To Buy Gold Now?

By now, everyone knows of the shortages in the gold market; JPMorgan has to be as aware of that as the rest of us. It just isn’t safe for them to continue to lean on the market. Being aware, it looks like they are taking the bet that gold will rebound, so they could do well on the other side of the trade.

Is it Time for the Gold Bugs to Admit Defeat?

Gold prices have fallen by more than a third since its 2011 high & the downturn exceeds the 2008 waterfall selloff. Many technical analysts are saying that the “damage” on the charts is too great for gold to recover – The rout is so bad, even hardened the goldbugs have grown quiet lately.

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