Special offer from Mark Leibovit for Money Talks only: The intense analysis of Gold in the 10-12 page The VR Gold Letter is right now 75% off for the first month or $29.95 (regularly $125.00 a month). The weekly VR Gold Letter focuses on Gold and Gold shares.Go HERE and use the Money Talks promo code CBC12210
ACTION ALERT:
Traders are either in cash or short awaiting a renewed trading signal to get long gold. Though I am attempting to give the upside the benefit of the doubt vis a vis the Annual Forecast Model, time is running out. If we get a clear buy signal, I will jump back in and notify you with the view that should be looking for an intermediate top.
Precious metals rallied on Monday and Tuesday but then fell on Wednesday and Friday to finish the week nearly unchanged. Most interesting, the stock market also rallied early last week before declining at the end of the week. And the Dollar declined early last week before rising the last couple of days. So, stocks and precious metals seem to be trading together, inversely to the Dollar. However, notice that metals finished near unchanged for the week despite the rise in the US Dollar. Obviously, there is more to the precious metal story than the Dollar. Fears over the Greek credit crisis and credit troubles in a number of other countries are obviously providing a base for gold.
With fears over credit coming from Greece and around the world on one side and a strong Dollar, for now, on the other, gold is caught in a trading range of approximately 1100-1140. Last week, gold bullion traded as high as 1134.40 and as low as 1100.50, closing at 1107.90, up 6.40 from the previous week. All this while the US Dollar Index rallied 0.959. Silver though fell 0.11 to 16.96, platinum remained unchanged at 1605, palladium rose 4 to 465, and copper declined 0.0075 to 3.3725.
On Thursday, volatility in the price of gold fell to its lowest level in seven months based on the CBOE Gold Volatility Index. Friday’s sharp decline in gold lifted the Volatility Index off those lows, but it still remains very low by historical standards. Volatility was last in August 2009, right before gold rallied from the 950 level to over 1200.
The weekly VR Gold Letter focuses on Gold and Gold shares. The letter is available to Platinum subscribers for only an additional $50 per month and to Silver subscribers for only $70 per month. Email me at mark.vrtrader@gmail.com.
Special offer from Mark Leibovit for Money Talks only: The intense analysis of Gold in the 10-12 page The VR Gold Letter is right now 75% off for the first month or $29.95 (regularly $125.00 a month). Go HERE and use the Money Talks promo code CBC12210
Marks VRTrader Silver Newletter covers Stock, TSE Stocks, Bonds, Gold, Base Metals, Uranium, Oil and the US Dollar.
More kudos – Mark Leibovit was named the #1 Intermediate Market Timer for the 10 year period ending in 2007; the #1 Intermediate Market Timer for the 3 year period ending in 2007; the #1 Intermediate Market Timer for the 8 year period ending in 2007; and the #8 Intermediate Market Timer for the 5 year period ending in 2007. NO OTHER ANALYST SURVEYED APPEARED IN ALL FOUR CATEGORIES FOR INTERMEDIATE MARKET TIMING AS PUBLISHED IN TIMER DIGEST JANUARY 28, 2008!
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The VR Gold Letter is available to Platinum subscribers for only an additional $20 per month, while for Silver subscribers the price is only an additional $70.00 per month. Prices are going up very shortl, so act now! Separately, the VR Gold Letter retails for $1500 a year! The VR Gold Letter is published WEEKLY. It is 10 to 16 pages jam-packed with commentary and charts. Please call or email us right away. Tel: 928-282-1275. Email: mark.vrtrader@gmail.com .