Wednesday, October 25, 2006

Gold and Silver weekly charts

The Intraday (10/24) bullish reversal for gold and silver certainly support the bull case. Below are weekly charts for spot gold and silver annotated with Fibonacci and support resistance diagonals.

Gold weekly chart

Silver weekly chart

Monday, October 23, 2006

Spot Gold Chart - Intraday Fibonacci Update

Dear readers,

I'm posting a spot gold chart with the latest Fibonacci set for your convenience.

For more charts and info browse the archive , see also and

Spot Gold Intraday Chart

Friday, October 20, 2006

Gold channel chart

Below is December gold contract (ZGZ6), click to enlarge chart.

December gold  chart

Wednesday, October 11, 2006

Gold bottom?

Gold might be finally bottoming and higher prices are about to follow. Obviously it is not guaranteed and any market participant should make his own decision. I would favor initiating long position at current prices while keeping enough cash for averaging down or up.

The two charts below present the case for what I assume to be important secondary bottom of this great global gold bull market.

gold spot intraday chart

gold spot weekly chart

Tuesday, October 10, 2006

Gold / Euro / Yen

Dear readers,

I'm posting Gold/Euro and Gold/Yen Fibonacci charts for your reference, notice the stochastic crossover.

click on the charts for larger view.

Gold / Euro  daily chart

Gold / Yen  daily chart

Wednesday, October 04, 2006

Gold ($, €, ¥) weekly charts

Some of the latest gold market news from around the world:

Singapore gold fund trading starts next week

SINGAPORE, Oct 5 (Reuters) - StreetTRACKS Gold Shares (GLD.N: Quote, Profile, Research), the world's largest gold exchange-traded fund, would be cross-listed in Singapore next week in a move to capitalise on Asia's growing fondness for bullion.

It will be listed on Oct. 11 on the Singapore Exchange and would be Asia's first gold-based ETF.

StreetTRACK is the World Gold Council's New York Stock Exchange-listed product, with an average daily volume of around $400 million and assets in excess of $7 billion.-source

Official Statistics Confound Rumour of Heavy Central Bank Sales: CBGA Sales in Year 2 Confirmed as Well Under Quota at 393 Tonnes

As forecast in mid-September’s Gold Survey Update 1, sales by the signatories to the Central Bank Gold Agreement (CBGA) ended up far short of their annual 500 tonne quota at just 393 tonnes. This confounds market speculation during much of September that there had been a last minute rush to sell gold before the end of the second Agreement year (on 26th September) and that this was responsible for the period’s price weakness. -source

Riksbank reallocates gold and foreign currency reserves

The Riksbank intends to sell up to 10 tonnes of the gold reserve during the period 27 September 2006 to 26 September 2007. The sale is in compliance with the Central Bank Gold Agreement (CBGA) which was signed by 15 European central banks and came into force on 27 September 2004. The agreement, which runs for five years, enables the Riksbank to sell up to 60 tonnes of gold during this period. To date the Riksbank has sold a total of 25 tonnes of gold, 15 tonnes during the first year of the agreement and 10 tonnes during the second year. The Riksbank’s gold reserve currently amounts to 160 tonnes of gold.-source

CBOT 100 oz Gold Futures Surpass 60% Market Share

CBOT Full-sized Gold Futures Contract Surpass 60 percent Market Share for the First Time in a Single Trading Day
CBOT Full-sized Silver Futures achieves 10,000 contracts in open interest

CHICAGO October 4, 2006 The Chicago Board of Trade (CBOT) announced today that its Full-sized (100 oz.) Gold futures contract surpassed a market share milestone of

60 percent on October 2, capturing 64 percent of all listed Gold futures traded in North America that day. Open interest in the CBOT Full-sized (5,000 oz.) Silver futures grew beyond 10,000 contracts and set a new record of 10,064 contracts yesterday. The previous record was 9,959 contracts set on September 29, 2006.

Average daily volume in the CBOT Gold complex, consisting of Full-sized (100 oz.) Gold futures and options and mini-sized (33 oz.) Gold futures contracts, reached

52,464 contracts during September and achieved a market share of 54 percent of all Gold futures traded in North America for the month. -source

iShares Silver

BARCLAYS Global Investors has applied to register 15.2 million new shares in its iShares Silver Trust on AMEX doubling the total amount that could be invested, Reuters reported.

"We are registering additional shares. That does not mean the trust is automatically going to buy additional metal," Barclays spokeswoman Christine Hudacko told Reuters.-source

Year to date weekly charts of gold in terms of USD, Euro & Yen.

gold euro chart

gold usd chart

gold yen chart

Tuesday, October 03, 2006

Dow/Gold , Gold/Oil Ratios – Update

1) The Dow Jones Industrial Average made a new all times closing high of 11,727.

2) Gold is sharply lower. Cbot gold trading had another serious malfunction today (not the first one this year…), AMEX GOLD BUGS INDEX is down 6.67% for the day.

3) The Dow / Gold ratio is nearing completion of an A-B-C correction wave – in my opinion.

4) The Gold/Oil ratio closed above its 200 weekly moving average for the first time since early 2004.

for more information and charts of gold ratios, See this post : The importance of the Dow Jones / Gold, Gold / Oil & Gold / Silver ratios.

See also HUI/Gold ratio.

Dow/Gold ratio chart

Gold/Oil ratio chart



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