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Next major downleg in the DX resumes shortly imo... <B>Iran drops dollar from oil deals: report - 12/8</B> TEHRAN (AFP) - Major crude producer Iran has completely stopped carrying out its oil transactions in dollars, Oil Minister Gholam Hossein Nozari said on Saturday, labelling the...

GS last week, JPM this week with a twist... <B>JPMorgan favors precious metals in 2008</B> http://www.reuters.com/article/marketsNews/idCAN0744794120071207?rpc=44 NEW YORK, Dec 7 (Reuters) - Precious metals could rally in 2008 as the U.S. dollar falls and supply flattens, JPMorgan said...

as far as I can see, gold closed the floor right near 795. I would say gold is holding the higher end of the trading range at the moment which is 770-810. The weekly close for both gold and silver is just slightly higher but the technical indications from the gold shares especially seem to be...

So far my entry into GDX yesterday looks good. My read into the gold shares is that a major upside move is imminent. Likely as soon as tomorrow or early next week. This would likely occur on the back of a major upside break in gold and silver. By major I mean a NY close back over 820-830 and...

Ideally silver should close back over 14.50-60 in order to confirm a reversal to the downtrend from the 16.20 high. Once this barrier is clear, then I imagine that silver will begin to move very quickly again to challenge the 16 print...

Another element that I believe will provide additional fuel to gold and silver is Copper which appears to be putting in another major bottom here. The next wave up appears to have some very good upside potential and the gains in copper should spill over into the gold and silver rings as well. I...

As of 10AM NY time, Comex gold is back over 800 and silver over 14.40. Let's see if we can close the week out at or near these levels for a positive weekly close. I now feel like I am talking to myself as it is obvious that the interest level in the metals has disappeared dramatically. This is...

subsidies for subprime borrowers courtesy of your hard earned death defying declining US dollars... what a damn shame...

Even though the XEU and the GBP are down significantly today against the Greenback, gold is only down a few bucks and is currently trading at 796.10 cash, exactly the same spot where I entered this position last week. A few more days of grinding action and then up imo.. Today several funds house...

As I have said before, volatility has returned to the gold/silver market and the general attitude is still SELL for the PMs right. $10 up or down is almost a daily occurance now. As long as 780 on gold and 13.80 on silver holds on a closing basis, then I personally plan to stay long for much...

Perfect backtest of the breakout at 14 from October. Nobody ever said that it would be easy riding a precious metal bull but for those that can, then the big moves are still on the way. Ya just gotta take some and sit tight for a while. For all of the reckless CBs embarking on new rate cutting...

BTW, I also entered into a few platinum contracts as well (PLF8) which technically looks even better than gold/silver but of course will have less upside potential. Investment and jewelry demand continues to outstrip supply and the SA situation with NUM continues unabated. I believe PL will...

What I anticipated to happen is actually happening now. Both gold and silver are holding very solidly right at the 50DMA on the cash charts. Per my comment the other night, 780 on gold and 13.90 is now strong support on the metals and I plan to stay in as long as the metals do not have a NY...

Both gold and silver have higher Asian bids and is going stronger into Europe. Near-term support looks pegged at 780 on gold and 13.80-14.00 on silver. Resistance is 795-800 on gold now as well. 76 on the DX looks like resistance as the UAE peg situation becomes noticed more now...

Your decision to quit is understandable. Just be glad that you forced yourself out of trading instead of being forced out by losing everything. Trading can be an addiction just like gambling. I find more times than not that most traders that give up is because they are locked into daytrading...

John Embry of Sprott Asset on junior gold miners: "I can&#8217;t think of a better time to buy juniors; it is one of the very best times. I think the best time was at the bottom in 2000 and 2001. But given where the gold price has come and the way some of these juniors are trading, I think...

Puru Saxena thinks silver is about to take off as well.. He has had excellent energy and precious metals calls over the last 4 years or so and put his clients in Crude since the beginning of this year. He is one of very few that sees the bigger picture ahead...

Something to think about. 20-Week EMA should act as significant support going forward...

Most of the selling across the commodities complex is directly related to December FND and also due to rate cut prepping by the Fed. It is possible that the energy and metals complex is being sent down in order to prepare the markets for a 50BP cut in the FFR. I suspect the metals won't move too...

It is always very tough to stay long during these sharp corrective periods in the PM complex. This is why very few futures traders make money in PM bull markets because the bull kicks them off at every sharp turn. The main reason why I try to maintain focus and confidence in the trend is that no...