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Hourly Action In Gold From Trader Dan

Dear CIGAs,

Click chart to enlarge today’s hourly action in Gold in PDF format with commentary from Trader Dan Norcini

In The News Today

Dear CIGAs,

Credit Suisse is forecasting the gold price of $1630 for 2011. Remember how dumb that sounded seven years ago?

I was called every name in the book by the shorts in gold at the $300 and $400 level.

The greatest compliment is imitation. It looks like the hoard of experts that

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Jim’s Mail Box

Greetings Jim!

Gold closed near unchanged yesterday, holding below recent all-time highs of the secular bull market. Price action has been characterized by volatile swings higher and lower during the past two months as the long-term uptrend has consolidated recent gains of the rally from late July.

Cycle analysis indicates the gold market

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Is There a Short Squeeze in the Silver Market?

Dear friends,

As mentioned in my post yesterday, I have been monitoring the silver market for any signs of a short squeeze in relation to the ongoing campaign to push out Morgan. I was curious whether or not we would see any signs of distress among some of the shorts yesterday as silver first

Continue reading Is There a Short Squeeze in the Silver Market?

Have You Been Good Boys and Girls?

U.S. Dollar Index

In the News Today

Jim Sinclair’s Commentary 

There is no question whatsoever that $1650 will be a low price objective for gold. 

Gold Imports by China Soar Almost Fivefold as Inflation Spurs Investment

By Bloomberg News – Dec 2, 2010

 China’s gold imports jumped almost fivefold in the first 10 months from the entire amount shipped in last year

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Hourly Action In Gold From Trader Dan

Dear CIGAs,

Considering the fact that today is the end of the month and that during such times, many markets that have been in uptrends see some price weakness as traders book profits, gold, and silver for that matter, displayed impressive strength as buyers went to work. One can only suspect that December should

Continue reading Hourly Action In Gold From Trader Dan