Tuesday, August 23, 2005

Recent News on the State of the Gold Market

The Price of Gold: How High Can it Go?

A Modern Dilemma: The Gold Standard Meant Freedom

Four Waves of gold buyers in America over the last 40 years.

For those of you who like fundamental news.


Friday, August 19, 2005

Back from the jungle...

Wouldn't you know it.

While I was away with no access to the Internet, email and phones, the markets gave us some great opportunities to apply our trades.

On 11th AUG Gold had all the signals required to fit our strategy, increasing for one more day so we would have been filled, then retracing.

On 12th AUG Crude gave us all the we need to place a trade - although, this market has been quite a roller-coaster for some time.

As for other markets, Silver remains flat, Soybeans is dropping and Coffee is well down.



PS: As fate would happen, while I was away, my backup plans for keeping the office running failed. The lesson here is to always have a backup plan and to test it well before relying on it. For those affected, my apologies.

Wednesday, August 03, 2005

Last Market Update for 3 Weeks...

This will be my last update for 3 weeks, as I'm about to have a short break.

I've chosen a place that has no TV, no phones and no Internet. In fact it's one of the most remote places on earth.

A group of friends are joining my wife and I to retrace the anniversary of the Kokoda Trail in Papua New Guinea.

As for the markets:

Crude Oil came really close to hitting our indicators and has retraced slightly - I'd still be watching this one for new highs.

Sugar continues to push through the roof - but has very slim pickings for our type of trade.

EuroFX made a good movement last night - but has relatively low volatility. It's still a way from our indicators, but worth watching.

Yen looks to be making a comeback, but still way off our radar.

Our favorite, Gold made good gains and is heading back to tradable territory. It's volatility is rising. watch this over the next few weeks.

Silver, which normally follows Gold's movements, rose less but has higher volatility. Watch this in a month or so.

All in all, it's been a relatively flat period of late. But it looks like it's hotting up.



PS: You may notice that I don't comment about underlying market fundamentals or any news that's driving the markets very much. I'm not a fan of watching these. The only thing that is important for me, is what is the price and what will you decide based on that.

So remember to look at www.kitco.com and www.futuresource.com if you're interested in the fundamentals.

Monday, August 01, 2005

Crude is on the move again

Today, the following news came from AAP -

Oil prices have risen above $US61 a barrel in Asian trade.

At the close of trading in New York overnight, light sweet crude for September delivery was $US60.99 a barrel, 42 cents higher than at Friday's close.

A loss of production because of a fire at a refinery in Texas last week has come at a time when demand is at its seasonal peak.

The US Department of Energy says petrol stocks dropped 2.1 million barrels in the week ending July 22, much more than the 700,000-barrel fall expected by the market.

This tells us that Crude may get to our criteria soon - stay tuned.