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Gold Chart of The Week

Posted on by The INO.com Team

Each week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (October 1st through October 5th)

“Better late than never” comes to mind as I prepare this week’s Weekly Gold Report. Just as I sat down to capture the weekly chart for December Gold, the market erupted after another perfectly timed announcement from a US FED official.

After dismal news from the European Manufacturing sector overnight, a European Union Commissioner made upbeat remarks about Spain, followed by FED member Charles Evans stating that he would like to see “Operation Twist” continue past the December 2012 deadline and go on for another calendar year. The remarks from Olli Rehn in Europe and supportive comments from Evans in the US were enough to offset the worst Manufacturing number that Europe has seen in three months. Continue reading "Gold Chart of The Week" →

Gold Chart of the Week

Posted on by The INO.com Team

Each week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

WEEKLY GOLD REPORT (9-24 through 9-28)

After a fairly choppy trade last week, the December Gold Futures were able to pull off a rally to chart resistance last night before finally feeling the pressure of a strong US Currency. While the US Dollar spent most of last week recovering from a three week drop, Gold prices remained relatively unchanged.

Last night Gold Futures climbed to $1775 an ounce before losing momentum and falling almost $20. All of this action had taken place before the open of the pit in New York on Monday morning. I mentioned in last weeks report that key upside resistance for Gold would likely target numbers in $25 increments. I truly expected much more out of Gold, following the FED’s announcement to move forward with QE3, and especially after finding out that Japan also went back to the printing press. My target last week was $1800 and possibly $1825. While I was disappointed in the choppy market, I am pleased to see that Gold continues with the trend of using targets with $25 resistance levels. Continue reading "Gold Chart of the Week" →

Gold Chart of the Week

Posted on by The INO.com Team

Each week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (9-17 though 9-21)

Last week brought the final piece of news that the Gold Market needed to not only continue a campaign higher, but also to put the “Gold Bugs” comfortably in the drivers seat. For anyone that trades, owns, or simply follows the price of Gold, the FOMC announcement to bring back Quantitative Easing was very big news.

In short, the FED decided to reinstitute a plan that will involve printing more US Dollars and purchasing debt. They recognized that since late February when QE2 was halted, overall market sentiment had gone cold. The job market has suffered, the real estate and mortgage market has gone flat, overall market sentiment has not improved, and this has left major markets dangerously low in volume. Continue reading "Gold Chart of the Week" →

Gold Chart of the Week

Posted on by The INO.com Team

Each week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (September 10 through September 14)

As we begin the last of a three week stretch of policy statements from the United States and Europe, the Precious Metals maintain their upward bias.

December Gold futures rallied to another new high overnight, as traders continue to price in last week’s news from Europe and anticipated bullish news from the US FED this Thursday. Continue reading "Gold Chart of the Week" →

Gold Chart of the Week

Posted on by The INO.com Team

Each week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Review (09-04-2012)

 As anticipated, last week began with a choppy-to-lower trade in the Gold market after the prior week’s strength. It was expected that there would be an early hangover in the trade after Gold futures broke above the second wedge pattern (as seen on the chart provided) and awaited news from the Jackson Hole Symposium. While the last two years provided dependable, long term programs to base trades from (QE2 in 2010 and Operation Twist in 2011), this year was far less exciting.

Any trader that was involved in the markets last week, especially in the Precious Metals, has already read through Ben Bernanke’s speech, so there is no reason to repeat every word in this article. In short, there were no major changes in policy announced from Jackson Hole, but the FED continues to monitor the markets and stands ready to act if deemed necessary. Sound familiar? Continue reading "Gold Chart of the Week" →