tag:blogger.com,1999:blog-77924649835206616622012-02-16T09:17:10.453-08:00Gold and precious-metals investments: what the charts are telling us. Comments welcomed.Goldbriefingnoreply@blogger.comBlogger89125tag:blogger.com,1999:blog-7792464983520661662.post-77702925759973747122008-09-30T12:13:00.000-07:002008-09-30T12:16:18.132-07:00

Goldbriefing is travelling this week and next. We'll be back in mid-October.

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-45548985173377916792008-09-21T13:18:00.000-07:002008-09-21T22:04:31.436-07:00

Gold's $70 vault on Sept. 17 served as the exclamation point marking the end of the six-month decline that began after the yellow metal peaked on March 17. It remains highly improbable, however, that gold will exceed its all-time high of $1,033.90 any time soon. The most likely scenario is a return to the bottom of the weekly channel and a slow crawl along the uptrend line until gold builds up

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-90994671791768099212008-09-15T06:49:00.000-07:002008-09-15T09:45:13.332-07:00

The U.S. dollar index has finally halted its headlong rise to extremely overbought levels, losing more than a point on Friday. Conversely, gold and silver have started to turn upward, led by GDX, the gold-mining ETF.U.S. DOLLAR INDEX (daily)Upside: After falling 1.24 on Friday, the index could bounce briefly before resuming its decline.Resistance: Thursday's high at 80.38.Downside: A correction

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-19884806564561997522008-09-04T22:48:00.000-07:002008-09-05T08:48:06.834-07:00

This blog's first post was on Sept. 4, 2007, exactly a year ago, the day gold broke out of its 15-month consolidation and began its rocket-propelled ascent to its all-time high of $1,033.90 in March.Six months later, on March 10, we said:Our indicators and, especially, our trend lines have kept us onside for virtually the entire rally, although there were a couple of weeks when its potency and

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-25748244435818021802008-08-30T19:58:00.000-07:002008-08-30T21:07:55.903-07:00

Gold, silver and GDX are still in the process of forming a base, and the U.S. dollar index is probably in the process of forming an intermediate-term top.GOLD (daily)Upside: Gold made a higher low on Tuesday. MACD has made a bullish crossover.Resistance: Fibonacci 50% retracement level around $843; middle rail of blue channel; Fib 38.2% retracement level around $888; the 200-day MA; the 50-day MA

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-67694266214695747722008-08-24T21:48:00.000-07:002008-08-24T22:33:28.440-07:00

Gold bounced smartly from the low it made on Aug. 15 and has run into recent support turned resistance. The gold-mining ETF is starting to outpace gold to the upside, which is bullish for the yellow metal. The long-term charts suggest that an intermediate-term low is being made this month, though the bottoming process could take a little while. Beyond that, the precious metals typically show

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-8801579572608103782008-08-17T10:18:00.000-07:002008-08-18T14:17:24.281-07:00

One year since their rallies began, gold is back at important long-term support, and silver is also there or close to it. GDX, the gold-mining ETF, is the weakest of the lot, having broken its 200-week MA. If a reversal doesn't materialize within a matter of days, look out below! The U.S. dollar index has peeked out above an important downtrend line. Either the buck stops here, pronto, or it

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-1625084141735999782008-08-10T09:58:00.000-07:002008-08-17T11:40:44.265-07:00

After plowing through several layers of support, gold and silver are entering oversold territory. The most spectacular breakdown has been shown by GDX, the gold-mining ETF, which has collapsed 30% since its recent peak of $51.84 less than four weeks ago. Meanwhile, the U.S. dollar index is making a spectacular moonshot, a parabolic ascent fuelled no doubt by frantic short covering. It is

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-51013013192273118762008-08-03T22:18:00.000-07:002008-12-10T12:04:22.839-08:00

There is little sign of strength in gold or silver, as these precious metals continue to grind away within their broader channels. The gold-mining ETF has shown remarkable weakness, coming within hailing distance of its December and May lows this past week. Meanwhile, the U.S. dollar is looking decidedly perky. The traditional late-summer-to-early-fall rally in gold and silver may still be weeks

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-36825718744376666442008-07-28T06:18:00.000-07:002008-12-10T12:04:24.077-08:00

In their retreat from their recent rallies, gold and silver have formed new, wider channels parallel to the existing ones. A breakout from these new channels would be necessary for the precious metals to continue their advance, but that could take a while. Interestingly, GDX, after its precipitous decline, appears to be bouncing from a new channel line parallel to and below the existing channel,

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-90454629492308522182008-07-20T11:08:00.001-07:002008-12-10T12:04:25.884-08:00

Gold experienced a sharp pullback in its steep upward trajectory. Silver and GDX, which both tend to be more volatile than the yellow metal, experienced more substantial pullbacks. The rallies of all three are likely to continue -- with a retest of the breakout points if necessary, in the case of the metals. A failure of any such retest would be ominous.GOLD (daily)Upside: Gold is still above its

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-62279810789915679652008-07-13T11:42:00.000-07:002008-12-10T12:04:28.612-08:00

Gold and silver have confirmed their breakouts, and the U.S. dollar index has broken down from a four-month channel. A test of the March highs (low, in the case of the dollar) is conceivable.GOLD (daily)Upside: August gold successfully tested its broken downtrend line and has risen above its initial breakout high. RSI and MACD rising.Resistance: Round-number resistance at $1,000; all-time high of

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-10476486529067552772008-07-06T22:28:00.000-07:002008-12-10T12:04:29.304-08:00

Gold and silver are testing the breakouts from their downtrends (or the necklines of their inverted head and shoulders), while the volatile GDX is showing comparative weakness and the U.S. dollar index has broken back into its rising channel. We should know within a few days whether the breakouts are fakeouts or the real thing.GOLD (daily)Upside: August gold is still above the broken downtrend

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-85814065582888970772008-06-28T21:58:00.000-07:002008-12-10T12:04:30.099-08:00

August gold broke through its downtrend line on Friday, forming an inverse head and shoulders. The U.S. dollar index is, conversely, breaking down from a three-month upward-sloping channel. If these moves are confirmed, a significant short-term rally can be expected in gold, and a significant decline in the dollar.GOLD (daily)Upside: Gold has broken out from a three-month inverse head and

Goldbriefingnoreply@blogger.com1tag:blogger.com,1999:blog-7792464983520661662.post-74075696423124950702008-06-22T11:58:00.000-07:002008-12-10T12:04:30.959-08:00

Gold has been showing strength, and the U.S. dollar, weakness, but both are still trading within channels that could eventually resolve into a bull flag for the yellow metal and a bear flag for the dollar index.GOLD (daily)Upside: Gold has surmounted its 50-day MA. RSI is back above 50. MACD has made a bullish crossover.Resistance: Top of thin blue channel at around $920.Downside: No clear

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-82811374913747222012008-06-16T08:38:00.000-07:002008-12-10T12:04:31.710-08:00

As the U.S. dollar rallies in a well-defined channel, gold and silver are back in their downtrends.GOLD (daily)Upside: Long downtails on Thursday and Friday suggest some support near the rising 200-day MA.Resistance: Fibonacci 38.2% retracement level at about $888; falling 50-day MA, just under the round number at $900.Downside: Gold is still below its 50-day MA. MACD continues to decline.Support

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-40829332332647814072008-06-09T07:58:00.000-07:002008-12-10T12:04:32.561-08:00

Gold rose more than $30 from its Thursday low to close just a buck under $900 on Friday, as the U.S. dollar index plummeted by just under 1.5 points from Thursday's high -- which, at 73.87, could be seen as making a double top with the high in May.Is this a new downleg in the dollar, to be accompanied by a new upleg in gold? Or could the dollar merely be fluctuating within its upward-sloping

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-12519022355096984392008-06-02T12:21:00.000-07:002008-12-10T12:04:33.348-08:00

Gold and silver ended their short-lived rallies and are in downswings as the U.S. dollar found support at the bottom of a new upward-sloping channel and continues to rise within it.GOLD (daily)Upside: RSI rising.Resistance: Round number at $900; falling 50-day MA, currently near $906.Downside: Gold is back below its 50-day MA. RSI is back below 50. MACD is poised to make a bearish

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-14989048638957018522008-05-23T19:00:00.000-07:002008-05-23T19:01:55.758-07:00

Goldbriefing is traveling. The blog will be updated soon.

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-90017732129504612622008-05-10T21:32:00.000-07:002008-12-10T12:04:34.078-08:00

Gold managed to bounce from the vicinity of its Fibonacci 50% retracement level to the vicinity of its 38.2% retracement level, where former support may be expected to offer resistance.GOLD (daily)Upside: RSI still rising, hasn't reached 50 yet. MACD making a bullish crossover.Resistance: Fib 38.2% level at about $888; round number at $900; falling 50-day MA, currently near $929.Downside:

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-52667767862665671152008-05-04T20:21:00.000-07:002008-12-10T12:04:36.331-08:00

Gold began the week with the most anemic of bounces before continuing its decline. The yellow metal found stronger support in the vicinity of its November high, January low and Fibonacci 50% retracement level. Gold may bounce around in this area for a while before falling further.GOLD (daily)Upside: Fib 50% level supplying support. RSI appears to be bouncing off 30. MACD-Histogram has flattened

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-51466210153800913882008-04-27T22:06:00.000-07:002008-12-10T12:04:39.209-08:00

June gold paused at the Fibonacci 38.2% retracement level on Friday. We may enjoy a brief respite before the plunge resumes.GOLD (daily)Upside: The Fib 38.2% level is supplying support. RSI has flattened out.Resistance: 50-day MA, currently flat at about $942.Downside: MACD has made a bearish crossover.Support: Fib 50% level at about $843.Bottom line: Gold may come up for air before resuming its

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-58451374888319181282008-04-20T21:49:00.000-07:002008-12-10T12:04:40.753-08:00

On Wednesday June gold poked above its 50-day MA -- which has now flattened out and is running along the Fibonacci 23.6% retracement line -- but failed to stay above it for very long. The yellow metal plunged nearly 3% on Friday to start the next leg of a decline that could take it back below $800 in a matter of weeks.GOLD (daily)Upside: MACD has made a bullish crossover.Resistance: 50-day MA,

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-2678429169050674292008-04-13T22:58:00.000-07:002008-12-10T12:04:41.644-08:00

June gold came within a hair's breadth of its Fibonacci 23.6% retracement level on Thursday and was repelled by its 50-day MA -- both resistance levels indicated in last week's post. The yellow metal appears to be resuming the decline that began on March 17.GOLD (daily)Upside: No clear indication, although there is a possibility that MACD will make a bullish crossover.Resistance: 50-day MA around

Goldbriefingnoreply@blogger.com0tag:blogger.com,1999:blog-7792464983520661662.post-62995164829535573072008-04-05T18:08:00.000-07:002008-12-10T12:04:42.824-08:00

June gold closed at $887.80 on Tuesday -- just 6 cents, or 0.007 per cent, below the Fibonacci 38.2% retracement level -- and proceeded to bounce from there for the rest of the week. While gold's short-term bounce may not yet be over, its longer-term decline almost certainly isn't.GOLD (daily)Upside: Gold has bounced off its Fib 38.2% level. MACD-Histogram rising from double bottom.Resistance: 50

Goldbriefingnoreply@blogger.com0