7:13AM PST

7:03AM PST GOLD SPIKES, EURO RISES TO 1.3743

6:39AM PST DOLLAR HITS .8255 AND BOUNCES UP TO .8267 WITH PPT HELP

Gold retraces 68.1% of the last big up move,
but looks weak as it tries to bottom there.
May go lower.

But instead in spikes up a bit but is held right

at 8375, the top for now?

6:32AM PST DOLLAR DROPS TO .8258, EURO SPIKES TO 1.3727

Gold being held down below 83750 with one
large volume attempt to go higher that immediately
was knocked down. Yet gold may go higher with
the dollar so weak. Euro now pulling back. Dow
selling off rapidly. These markets are trading wildly.
Almost no chance to post relevant data. Rely on the
charts. The charts have all the answers if you can see

the picture. gold moving lower as I type.

6:25AM PST DOLLAR SLIPS MORE TO .8268, EURO STARTING TO FALL

Markets all very 'herky jerky' today
no sustained runs of any consequence.
Volumes appear to be thinning rapidly
as holidays approach, but big moves
are possible in this environment

6:18AM PST DOLLAR SLIPPING AGAIN, NOW AT .8271, EURO RISING

Very light gold volumes

6:06AM PST DOLLAR JUMPS TO .8279, EURO DROPPING,DOW CLIMBING

Gold coiling right now, could spike up if other

markets cooperate. Dollar moves up to .8280,

an obvious PPT buy in

6:05AM PST DOLLAR DOWN TO .8258, EURO MAKING NEW HIGHS

Euro now topping at 1.3717

Dollar at .82625

Gold may pop up but is struggling on light volume.

This market likes to wait for the Fed decision later

today at 11:15 am pst when you will see some fireworks

in gold

Gold starting to swing wildly at the top

5:39AM PST DOLLAR SLIPPING TO .8272, EURO RISES TO NEAR IT'S HIGHS AT 1.3697

But gold is falling. Will bottom and then
zoom up.

5:31AM PST ALMOST NO VOLUME IN GOLD STAND ASIDE IT'S GOING DOWN

Looks like 'the boys' hit gold a bit and it might now go up
There is a big lag after the reports when gold goes one
direction, then reverses big time.
This is a big whip saw.

5:26AM PST WAIT FOR THE CPI REPORT

CPI Report will move the market.

Dollar at .8276 (delayed price)

Euro holding still at 1.3680

Gold now dropping some more.

5:19AM PST JUST BEFORE THE OPENING

Dollar is slipping, currently at .8276

Dow Index higher by 70 points

Euro rose pretty well, just pulled back, and is

slowly rising to sideways right now

Expect some wild swings on the open

then maybe a quiet market until the Fed decision

5:05AM PST EXPECT FUNNY THINGS TODAY

TODAY'S REPORTS:

Consumer price index

Core CPI

Housing starts

FOMC

4:39AM PST GOLD OVER NIGHT

2:15PM PST AFTERNOON CLOSE

10:49AM PST

10:14AM PST

10:00AM PST GOLD DROPS OUT OF THE DOWN FLAG AND RETRACES 75% OF THIS MORNING'S UP MOVE

9:45AM PST GOLD MOVES DOWN IN THE BLUE DOWN FLAG, BUT MAY MOVE BELOW IT

Dollar is moving up, currently at .8325

Euro has been moving down a bit and the Dow

is still down on the day.

Oil is off its low but still down

Yen is moving up

Not a good scenario for gold to move up, plus

this is the time of day when they try to sell off gold

before the close, but it should move up over night

if the dollar stays at this level. And I don't see how

it can be revived from here enough to hurt gold

9:14AM PST GOLD RETRACES 75% OF THE LAST DOWN MOVE

Dollar at .83185

Euro at 1.3633

MOVING AVERAGES ON A DAILY CHART DEC 15, 2008

Notice that gold has moved ABOVE the 100 day average

and, of course, all the shorter term averages

8:42AM PST

Dollar rises to .8317

Euro dropping to 1.3617

8:34AM PST GOLD ATTEMPTS TO MOVE UP

Dollar at .8306 currently after managing a new

high at .8312.

Euro sideways at 1.3616 or so

Dow still down 140 points, but up a bit after a low

at 8468. Down most of the day

Oil down to the 47s after earlier hitting 50

7:55AM PST

7:50AM PST DOLLAR HITS NEW LOW AT .8275

Euro going sideways for now.

Dow dropping lower.

Dollar gets a bounce to .8290

Gold could pull back 50% (83470)of this whole up move

from 82570 to 84370, or even further on profit taking

if it starts to pull back fast, which is starting to do.

Right now it's trying to find support on the top white line

of the earlier uptrend channel

7:30AM PST GOLD GETTING READY TO SPIKE SOME MORE?

Dollar even lower at .8288

Gold moves a bit higher to 84370

Dow bottoms at 8508 (March) and moves up

Some pull back in gold and the Euro for profit taking

7:20AM PST GOLD SPIKES TO 84050, DOLLAR FALLS TO .8303

Euro hits 1.3633 high
gold may form a down flag and rise higher

AND IT DOES! Up a little higher to 84250

as Euro hits a new high at 1.3651

Dow down over 150

Dollar even lower at .83025

6:55AM PST DOW MARCH CONTRACT DOWN 80 POINTS, EURO MAKES NEW HIGH, DOLLAR AT .8324

Gold is consolidating here for a strong move up
due to dollar weakness, unless the manipulators
can hold it down and they are really giving a beating

to gold, but gold is fighting back.

Euro is pulling back and Dow is falling more.

A very WILD DAY!

6:45AM PST NEW EURO HIGH AT 1.3570, DOLLAR HITS NEW LOW .8316

Gold moving back up
Markets moving too fast up and down
to report on them accurately.
All in all, dollar looks like it's history today.

6:40AM PST GOLD SPIKES! EURO MOVES TO NEW HIGH AT 1.3567

Dollar falls to .8530

Dow falling down 65 or so

Gold pulls back on profit takiing and/or

manipulation to drive it back down

It's moving back up right now

6:32AM PST DOW MOVING DOWN ON THE OPEN, DOLLAR ALSO FADING, EURO MOVING BACK UP

Gold trying to move up.
LATEST TIC REPORT IS IN
GO TO MW FOR THE REPORT
Dollar moving down

GOLD SPIKES!

6:22AM PST DOLLAR MAKES ANOTHER NEW LOW AT .8324

The Dollar is dying right here.
Everytime the dollar makes another low,
the PPT moves in to buy it.
It gets a little boost, then fades lower
It just got a bump off the low up to .8337
Euro slowing its rise, currently still in the 1.3530s
Dow now slipping before the open
Oil up to 49s
Bonds slipping
Yen slipping
DOLLAR JUST MOVES UP TO .8350

6:14AM PST DOLLAR DROPS BACK TO .8328 BUT GETS A PPT BUMP TO .8338

Euro moves up to a new high at 1.3555 but
immediatel is drug down to 1.3522, has moved
back to the 1.3530s
Quite a battle to keep gold down and not let the
Dollar collapse here.
Dow opens in 15 minutes and is now moving up
so the PPT is probably in there buying the indexes
right now as they need a strong up move on the open
Could drag gold up with it.
Gold holding well here, but I would like to see it take off
above 830.

Dollar currently at .83345. No strong bounce there.

6:01AM PST DOLLAR MOVES DOWN TO .83328, EURO MOVES BACK UP

A pull back for profit taking, but dollar stays down
and Euro moves back up to its highs as gold moves back up

5:56AM PST DOLLAR DOWN TO .83455, EURO UP TO 1.3535

Euro immediately turns around
gold pulling back from 83030.
Will probably coil here and move higher

5:50AM PST $9 BOUNCE OFF THE LOW, NOW THE PULL BACK

Euro rises to 1.3519, Dollar at .83565

The hit on gold was an attack by the shorts who

then covered and took another profit on the run up

from all the weak longs who panicked and sold out to

them. Quite a game, huh?

5:37AM PST GOLD TAKES A HIT

And bounces right back.

Dollar drops to .83505

Euro moves up to 1.3515

4:57AM PST OVERNIGHT GOLD

Dollar low at .8358, currently at .8364

this is a penny lower than last week.

Euro near its high of 1.3485

10:7PM PST

8:52PM PST

7:06PM PST

7:06PM PST

6:16PM PST

5:38PM PST THE LARGER PICTURE

5:22PM PST

4:21PM PST GOLD MOVES ABOVE THE WHITE TOP LINE OF THE DOWN TREND CHANNEL

3:40PM PST

If gold pulls back to the 75% retrace point, it

will have filled the opening gap

3:20PM PST SUNDAY GOLD OPENS UP

Gold should pull back to fill the gap on the open

SUNDAY 3:15PM PST GOLD GAPS UP ON THE SUNDAY AFTERNOON OPEN

MOVING AVERAGES ON A DAILY CHART DEC 12, 2008

THE BIG PICTURE SO FAR

THE LARGER PICTURE

THIS WEEK IN GOLD