Tag: Brian Booth

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

Two words can best define the sentiment of most major markets over the last few days of trading……..RISK ON.

Monday through Thursday last week saw disappointing news in the United States and abroad that dragged on almost everything outside of the US Dollar and the US Treasuries. There were no positive reports in Europe, China, or Japan. Furthermore, things are escalating quickly in Israel and dragging on global sentiment. Lastly, the United States put the blame on Hurricane Sandy after huge misses in the Initial Claims and Philly FED Report. There was also continued pressure on the markets as all major news outlets anticipated the outcome of the Fiscal Cliff debates in Washington. That is, until Friday……… Continue reading "Gold Chart of the Week" →

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 11-12 through 11-16

We begin this week in a light volume trade as the United States recognizes Veterans Day across the country. While the Gold Futures trade inside Fridays range, the market appears poised for higher prices this week.

After collapsing on the first and second day in November, the market has shown strength on a day to day basis. Fundamentally, all markets had to deal with a heated Presidential Election in the United States. The expectation was that a win by Barack Obama would help underpin Gold prices, as his policies would continue to give Ben Bernanke freedom to devalue the US Dollar through Quantitative Easing. Surprisingly, the US Dollar and Gold rallied side by side last week, which caught many traders off guard, but was welcomed by market bulls. This decoupling is not something that we see every day, which probably explains Gold’s cautious rally throughout last week’s trade. One can only wonder how high the price could have gone if the Dollar was down last week! Continue reading "Gold Chart of the Week" →

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 (November 5^th through November 9^th)

It was not until the United States Non Farm Payroll Report on Friday that traders had a clear idea concerning the technicals in the Gold Futures. Prior to the report, futures prices saw higher lows each day throughout the week and even traded up and outside of the range before failing miserably all day Friday.

To begin the week, Gold saw a lift after better than expected news from China was reported and was coupled with additional easing measures applied by the Bank of Japan. The light buying continued despite concerns in Europe over Spain and once again Greece.

Once the labor data was released in the United States that showed a better than expected number, there was a strong rally in the US Dollar which ultimately led to the demise of Gold and most other Dollar-based vehicles. The word is that traders saw a better than expected jobs number as a reason for the FED to scale back on their commitment to Quantitative Easing. Additionally, traders are awaiting important newsthis week from not only the United States but also from Europe and a G20 Summit now in session. Continue reading "Gold Chart of the Week" →

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 22^nd through October 26^th)

Last week concluded another five days of mixed data that continues the keep everyone guessing. When it comes to the fundamental side of the current market, traders are left scratching their heads fairly regularly. Each week we have to keep in mind that the US FED has made it clear that they will continue to print US Dollars and purchase debt (QE) which should help global markets avoid total disaster. Much of the sharp rally in Gold prices from late September into early October were in anticipation of this announcement. But it should be noted that the FED’s balance sheet is at the lowest level since June 2011 which means the $40B per month in easing has not yet begun. Last week reported less than favorable earnings for quite a few big names in the US markets, which prompted a hefty correction in equities that wiped out a three day rally in one session. Continue reading "Gold Chart of the Week" →