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Spot 60 Minute Trends for Gold, Oil, Nat Gas, and Indexes Welcome back everyone! It’s time to buckle up and get ready for another exciting year of trading. When the market is moving on light volume I tend to focus on very short term plays to minimize my exposure to volatility. The past couple of … Continue reading

This past week in gold By Jack Chan at www.simplyprofits.org 12/31/2009 GLD – on sell signal. SLV – on sell signal. GDX – on sell signal. XGD.TO – on sell signal. Summary Long term – on a major buy signal. Short term – on sell signals. A correction is in progress and we are fully … Continue reading

Introductory Summary: When gold reached our short-term target of about $1200, we closed our gold and silver futures trading positions.  We have since been looking to reenter our long gold and GDXJ junior gold miner trading positions whenever gold traded close to its 10 week (50 day) moving average (currently around $1117), and we did … Continue reading

I have a feeling we are going to see the dollar test the 80 -81 levels before rolling over and heading south again.

If this happens then gold and silver will continue to pull back. I am actually hoping the dollar moves higher and gold drops back to test the $1000-1060 level. This would clear the way for gold and the dollar to continue with their longer term trends with increased momentum (dollar collapses, gold goes parabolic).

The White House estimates that the government will have to borrow about $3.5 trillion more over the next three years. On top of that, the U.S. Treasury has to refinance, or roll over, a huge amount of short-term debt that was issued during the financial crisis. Treasury officials estimate that about 36% of the government’s marketable debt – about $1.6 trillion will mature in the next 12 months.

Ted Scott, director, UK Strategy, F&C, says, “The only way that gold can underperform is if the U.S. and other developed economies recover in a conventional way by cutting spending and raising taxes while at the same time embarking on a period of stable economic growth.”

Justice Litle: As the banksters rush to pay back TARP funds and clear themselves for year-end bonuses, the world moves closer to a hyperinflationary depression.

Ron Greiss of the Chart Store produces great graphics. In FSO’s wrapup piece, Greiss looks at various measures of inflation. Go here to see it: http://www.financialsense.com/Market/griess/2009/1229.html

Gold Appears to Have Bottomed and Crude Oil Surges to Again Challenge Critical $80 Level

A look at Gold, Oil, Natural Gas and the DJIA during this holiday season.