A golden-cross for the yellow metal this week could see a $2000 gold price by late 2015. Based on data going back to 2000, a golden cross has led to a 50% rally in metals prices in the following 15 months. If history repeats (and IF gold holds onto current levels, which it may not if there is more of a Crimea premium still built in to the price), then we could see a $2000 gold price by late 2015, which would make the 2011-2015 period eerily similar to 1974-1978, which was followed by a quadrupling of the gold price in the next four years. In other news, Industrial production figures in the US beat big time, although the prominence of motor vehicle sales is a worry. NAHB homebuilders outlook is subdued, and manufacturing missed too, whilst in Europe, inflation (or lack thereof) was on show again All that and more (VIEW LINK)


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Chris Weston

50 DAY = 1295, 200 = 1298. Since 2000 we've seen 7 golden crosses, with 5 being profitable events, 2 negative...if you had bought on this development you would have done nicely, but that was because of the strong trend up to 2011. Since 2012 there have been two crosses and both have been poor indicators. Its all about the trend and with both MA's trading moderately higher, a cross is bullish, but it no way nearly as bullish as we have seen over the years

Chris Weston

Too early to unwind political hedges yet...Russia still the main game and talk from Romania now of a push into Moldova...The start of a new empire?? 63% of Russian still feel they are a superpower..(although i'm sure that number would be higher in the US)

Chris Weston

Bearish daily reversal at the trend highs a concern- with price making a higher high and closing below Fridays low

Jordan Eliseo

No arguments from me Chris - i think we will test USD $1350 from here first - was always going to be some Crimea 'premium' come out of the market after the referendum there. Cheers