Gold (FOREX:XAUUSDO) Archives - Page 8 of 61

Winklevoss Bitcoin ETF Rejected Again

Posted on August 2, 2018August 2, 2018 by Matt Thalman

In March of 2017 the Winklevoss twins had their first Bitcoin ETF proposal rejected and now the second Winklevoss Bitcoin ETF proposal was dismissed in July of 2018 by the Securities and Exchange Commission. The reason all of this matter is because the Winklevoss twins where the first to have the SEC rule on a Bitcoin ETF back in 2017, and now that their proposal has been rejected for a second time things are starting to look a little bleak for investors who want a Bitcoin ETF.

First and foremost, the Securities and Exchange Commission that made the ruling expressed concern about Bitcoin’s trading reliability and security; two significant issues which don’t appear to be easy fixes anytime soon. The commission went on to say “The record before the commission indicates that a substantial majority of bitcoin trading occurs on unregulated venues overseas that are relatively new and that, generally, appear to trade only digital assets.” The commission stated that more then 75% of Bitcoin trading happens on unregulated foreign exchanges.

But, the commission did note that regulated Bitcoin markets are in their early stages of development and that if they further grow, the commission would then review the idea of allowing a Bitcoin ETF based on SEC requirements. Continue reading "Winklevoss Bitcoin ETF Rejected Again" →

Gold Update: Old Is "Gold"?

Posted on April 17, 2018April 16, 2018 by Aibek Burabayev

Recently, I was looking for my school notes amongst my old stuff for my eldest daughter to help her understand chemistry as my school teacher was a real fanatic on this subject. During the process, I found many things with memories from my youth, and it prompted me to call my old friends and discuss those handwritten letters that we used to send by messenger. We couldn’t have ever imagined that the digital era would come.

Quite often things from the past can help us today. I decided to dig deep into the past on the gold chart to understand what is happening with our frozen gold market these days. Bingo! He who seeks shall find.

Below is the chart with my annotations to illustrate the findings.

Chart. Gold Quarterly (Logarithmic): This “Vinyl” Could Play Again

Chart courtesy of stooq.com

First of all, I would like you to pay attention to the word “Logarithmic” in the chart title, which is usually abbreviated as “Log” in the chart options. It means that the Y-axis of the chart has log scale, which is nonlinear and commonly used for the broad range of the data. Continue reading "Gold Update: Old Is "Gold"?" →

Gold Failed And Silver Is On The Edge

Posted on February 12, 2018February 12, 2018 by Aibek Burabayev

As promised in my earlier post I updated the silver chart for you in this post as I spotted some exciting patterns forming on the chart below. But first, I would like to start with the stronger of the two metals, gold.

Chart 1. Gold Daily: Couldn’t Tag Previous Top

Chart courtesy of tradingview.com

Indeed, it was another excellent try when the bulls attempted to break loose from this long-lasting range established between $1046 and $1375 in 2016. But the RSI indicator didn’t agree as lower tops showed a hidden Bearish Divergence and this spoiled this nice bullish attack. The $1375 resistance has been left untouched. Moreover, now this strong indicator indicates that the bears took the ball as it dipped below the crucial 50 level. Continue reading "Gold Failed And Silver Is On The Edge" →

Gold Update: Santa Claus Rally You Hoped For

Posted on January 22, 2018January 22, 2018 by Aibek Burabayev

Two weeks before Christmas I posted the Gold & Silver update, where I asked you about your hopes for the traditional precious metals Santa Claus Rally at the end of 2017. The apparent answer those days was “No” as there was a severe weakness in the market and the price of the top metals was hitting another low. Let’s see in the poll results below what you were hoping would happen.

Chart 1. December 2017 poll results

Poll courtesy of INO.com

And to no one's surprise, most of you expressed hope for a Santa Claus Rally. Bingo! A Christmas miracle came into the market the next day after the post was published to push the price of the top metals to the upside erasing almost all of the previous losses.

In the updated monthly chart below I would like to add a technical touch to this fairy tale. Continue reading "Gold Update: Santa Claus Rally You Hoped For" →

Top Currencies Vs. Gold: Which Fiat Could Beat Gold in 2017?

Posted on December 30, 2017January 1, 2018 by Aibek Burabayev

This is a traditional post with a performance review of top currencies versus gold at the end of the year.

The fiat money is represented by 7 currencies: US Dollar (USD) and 6 components of the US Dollar Index (DXY) placed by weight: Euro (EUR), Japanese yen (JPY), British Pound (GBP), Canadian Dollar (CAD), Swedish Krona (SEK) and the Swiss Franc (CHF).

Chart 1. Year-To-Date Dynamics Of Top 7 Currencies Versus Gold: The Only Winner

Diagram by Aibek Burabayev; Source: tradingview.com

This year the gold was almost as strong as last year compared to the top currencies and only one rival could escape from its death grip. The Euro was also very strong this year as the Euro Index scored a hefty 7.26% gain against its peers (USD, GBP, JPY, CHF). It helped the euro to outweigh gold by 2%. Last year the EUR finished on 5th place.

Below is the full ranking for Y2017 with the Y2016 places in the brackets. Continue reading "Top Currencies Vs. Gold: Which Fiat Could Beat Gold in 2017?" →

Tag: Gold (FOREX:XAUUSDO)