Loading ...Slow Weekend here
This should get the heart beating again
Gold Closed Over 1300 this week basis Stock Charts 4 PM close…and nobody noticed…This is the first time in about 2 years Gold had a weekly close over 1300
This weekly close is Higher than Plungers Matterhorn Weekly Close ( and the interweek high was also higher !)
Martin Armstrong uses weekly closes as his “elections”…but his report on Gold after the close was bearish
Use this guy at your own peril…he keeps implying Gold is Going Nowhere until he says so…2017 / 2018 ?
Well everybody is entitled to his opinion but Gold is definitely HOT this year
UP $250 in 5 months !
Whose close do you believe though……..Kitco has closing POG at 1298.10? I believe MA uses the 4.00pm close, and not the aftermarket close which seems to run on for about another hour. Can’t trade aftermarket so doesn’t seem to me to be relevant.
I just watched MA’s latest video on gold and he didn’t seem bearish to me. He’s pretty clear (by his standards) and points to reversals/timing to watch for…..usual stuff that seems to wind some people up. June monthly/quarterly close important obviously.
Stockcharts is the 4 PM close
MA probably uses the Comex Close 1:30
I believe he also posted STRONGLY that one should NOT buy in December or January. But, remember, blame the computer, not him.
The price on stockcharts isn’t the spot price but rather the price of several futures contracts spliced together. The spot price didn’t breach $1300 at all on Friday as the live Kitco charts will show.
http://stockcharts.com/articles/mailbag/2011/06/what-is-a-continuous-futures-contract-gold.html
That is good information thanks neildavis2002. Always puzzled me these differences at EOD.
CMC markets had gold cash @ $1298.11 vs Kitco $1298.10