Guardian Weekly Market Report 124

Gold is still stuck in the trading range between 2300.00 and 2400.00. We still expect a break of the 2300.00 level in the next week or two  as the summer doldrums begin. We are targeting the 2225.00/2250.00 area for the gold bottom. After this bottom, a rally back up would be expected after a few weeks of consolidation down there and a reversal back to the upside. This will be confirmed by a close above 2375.00 – 2400.00. Then we should be off to the races as they say! HAPPY  HOLIDAYS

Guardian Weekly Market Report 124 Read More

Stylized representation of the movement of the price of gold.

Guardian Weekly Market Report 112

Gold again made another all-time high last week closing at 2329.50 while silver started to play catch-up with an approximate 10% rally to close at 27.50 an ounce. (Our expectations are for a continuation of the rally with gold targeting 2375.00 per ounce over the next couple of weeks while silver works to break 26.00 an ounce. If silver can break above 26.00, we look for a quick rally towards 28.00.) Our statement last week in brackets sums up our feeling and think gold will make its high Monday with the Eclipse and pull back from here temporarily. It may prove to be a market high until the next run develops.

Guardian Weekly Market Report 112 Read More

Stylized representation of the movement of the price of gold.

Guardian Weekly Market Report 104

Gold traded in a very narrow range last week and support at 2000.00 has been holding. We believe the gold price is about to begin a rally back towards 2100.00 but not before a pullback to the 1950.00 to 1970.00 area. This pull back should begin within a few weeks and could start with some key economic indicators on inflation coming out this week. The U.S. equity markets continue making new highs and while this continues gold will drift lower. If the interest rates remain high at over 5% there is no rush to invest in gold. Most talk of cuts in interest rates have been pushed out to May and even further. Without lower rates it is unlikely gold will begin its rally to the next higher level. Our expected range on the gold price remains 1960.00 to 2060.00 for the near term.

Guardian Weekly Market Report 104 Read More

Stylized representation of the movement of the price of gold.

Weekly Guardian Report 103

Gold had a strong beginning to week until a surprise surge in the monthly jobs report on Friday took the yellow metal lower closing at 2039 area. We see the support level for gold at 2000.00 being tested again with the possibility of breaking below this level and gold testing the 1950.00 to 1925.00 area at the lower end of our range. We still expect the range for the next few weeks to be from 1950.00 on the bottom to 2065.00 on the top. 

Weekly Guardian Report 103 Read More

Stylized representation of the movement of the price of gold.
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