You are currently browsing the Fintelligence weblog archives for the day 10/01/2010.
| M | T | W | T | F | S | S |
|---|---|---|---|---|---|---|
| « Dec | Feb » | |||||
| 1 | 2 | 3 | ||||
| 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| 11 | 12 | 13 | 14 | 15 | 16 | 17 |
| 18 | 19 | 20 | 21 | 22 | 23 | 24 |
| 25 | 26 | 27 | 28 | 29 | 30 | 31 |
- Dollar Collapse (17)
- General (24)
- Gold (186)
- 06/06/2011: The recovery failed
- 26/05/2011: Silver again
- 13/05/2011: $450 silver and $12,000 gold
- 11/05/2011: Oh well
- 09/05/2011: Some explanations
- 06/05/2011: NFP surprises
- 05/05/2011: Hi ho silver!
- 04/05/2011: Gold hits support and can still hit new high
- 04/05/2011: Is the top in? Maybe not
- 02/05/2011: Margin requirements take down silver
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- August 2008
- May 2008
- April 2008
Archive for 10/01/2010
A new year, a new high?
10/01/2010 by Philinje.
Happy new year and welcome to more of the same.
At the end of 2009, the dollar got a sudden boost from the prospect of lessening unemployment. That raised the specter of the Fed raising rates sooner than expected, and the dollar shifted into bullish mode.
But as of this past Friday, the unemployment numbers looked a bit worse and while still showing an improvement compared to a couple months ago, the dollar spiked down. It recovered pretty soon and then sagged into the close. So it could be that our sudden dollar bull has just as suddenly subsided.
So gold is looking strong as it tries to break above $1140. It may do that this week and the next stop is just under $1200. If that happens, the likelihood of new highs above $1227 may materialize, and we might be looking at the projected $1350 level.
On the other hand, be cautious at the $1200 level. If that doesn’t hold, and the dollar heads back up with conviction, we might get the C leg scenario. So this next move is critical. The next check-point in the calendar is end of January.
Posted in Gold | Print | No Comments »