Gold Fights to hold $1300 level
Gold bugs are having a hard time holding the $1,300 level after last week’s modest build up to a close Friday of $1,302.30.
Commodities
Crude Oil Ahead of the non-Farm Payroll
WTI Crude Oil (USO, quote) is trending higher in early trading by $0.88 or 0.87% at $101.16 ahead of the non-Farm Payroll Report. It’s worth noting that crude oil typically remains flat ahead of the report.
Gold Hinges on non-Farm Payroll
After twelve sessions of pain for gold bugs yesterday the bulls attempted to arrest the fall of gold after hitting a low $1,277.40.
Trade Alert – New Position – AA
Option Alert Service Signal New Trade Suggestion
Taking Profits – AU
Option Alert Service Signal Closing Trade Suggestion
Brent Steady Above $105 After Poor Manufacturing Data
Easing geopolitical tension coupled with worrisome economic figures pushed Brent crude oil (BNO, quote) to a near five month low on Tuesday.
CAMS Gold Playbook Ahead of the non-Farm Payroll Report
Gold (GLD, quote) continues to remain weak with yesterday’s close of 1284.50. In early trading the spot price of gold is basically flat.
Trade Alert – New Position -GLD
Option Alert Service Signal New Trade Suggestion
Dr copper now preparing to break higher
Let me start with a quote from my last post on copper where I wrote the following: “……and for any recovery longer term, we will need to see a dramatic buying climax, and given the extent of the current selling, an extended phase of congestion prior to any bullish momentum returning for copper.“
Stopping volume now appearing on the daily gold chart
It’s been a roller coaster ride for gold over the last couple of months with the precious metal first rallying almost $200 per ounce, and then promptly reversing from the $1390 per ounce level, and giving back just over half the gain, to trade at the time of writing at $1293.20 per ounce.