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KITCO's Jon Nadler Analysis

Updated 08:12:18 UST, 30 Jan 2013
Gold, Silver begins on weak footing, Gold witnesses selling

Gold, Silver begins on weak footing, Gold witnesses selling

By Jon Nadler
Gold and silver started the new trading week on a weak footing, picking up where they left off on Friday, with the former touching fresh two-week lows in the cash market at the $1,651 per ounce level. Some of the selling was related to options expiry while parts of it were caused by the reporting of a…

  • Gold and inflation call it quits - Film at eleven

    After having once again failed at the $1,696 resistance level on Wednesday, gold prices headed lower for a third straight session this morning.

  • Mild selling pressure seen in Gold and Silver

    The situation is fairly similar in silver. The white metal has the potential to touch its own 62% retracement target at $32.43 per ounce after having rallied to $32.15 on Friday. However, after five consecutive rising sessions, some profit-taking 'fatigue' may set in. If silver falls through the $30.15 January 11th low, the picture might change in that metal's trend as well.

  • Gold reaches one month high on weakness in Dollar, speculative buying

    In the markets' background, the US dollar moved to within 0.01 of the pivotal 80 level on the trade-weighted index despite a plethora of bearish calls made against it in the wake of last week's ECB interest rate non-action.

  • Gold begins week with a choppy session

    Ironically, Friday's weakness in gold prices was attributed to the same country that boosted sentiment just hours before: China. Whereas China's rise in reported December exports buoyed the gold bulls, the country's latest inflation reading unnerved the bullion bulls as it could portend the curbing of existing stimulus by government officials.

  • Draghi's interest rate status quo and impact on precious metals

    By leaving the ECB's key rate unchanged, Draghi did not imply that victory was at hand over the conditions that roiled Old World markets during most of 2012.

  • Top ten developments in financial markets in 2012

    Gold finished the holiday-abbreviated week with yet another loss as investors opted to take profits rather than await the outcome of last-minute Fiscal Cliff negotiations taking place at the White House.

  • Kitco daily market comment

    Well, folks, we made it to the end of another wacky year. A year that was dominated by QE hopes and disappointments, Fiscal Cliff hopes and fears, EU/euro hopes and fears, and Chinese economic hopes and fears.

  • Plenty of price-smashing in precious metals

    If you are reading this, well, then, it appears that rogue planet Nibiru has somehow managed not to smash into our little ball of dirt called Earth and end life as we know it. This also means that Aussie PM Ms.Gillard was really off-base when she made this Public Service Announcement not that long ago.

  • Kitco daily market comment

    There is a school of gold thought that envisions a fast pop to 1900 (maybe more) before Feb and then THE slide to 1250-1450. Stay in school.

  • Gold, Silver starts the week on a muted note

    Following last week's losses of 0.50% and 2.5% respectively, gold and silver started the final full trading week of the year on a muted note.

  • Kitco daily market comment

    You would expect a sizeable pop on the back of rumors that the US is one step closer to avoiding the slide off the Fiscal Curb in two weeks.

  • The Grinch that stole the QE year-end rally

    Friday's precious metals markets opened a tad higher but continued to how their recent lack of energy.

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