Gold Forecast: Prices Are Dropping Into The 6-Month Low Precious Metals and Miners are advancing toward their intermediate targets outlined in our April 21st exclusive: Gold Price Forecast – The Correction Into May Has Begun. The daily cycles are close to bottoming, and an interceding bounce is warranted. The short-term price objectives for DUST […]
Continue Reading →Gold closed the day at $1,240 and Silver at $16.48. Miners rallied most of the day but sold off after the FED announcement. Nonetheless, miners were relatively stable in the face of significantly lower metal prices. Perhaps subtle signs of bottoming. GDX rallied to the 10-day EMA by 2:00 PM before selling off. Prices […]
Continue Reading →The short-term objectives (4-5 Weeks) in DUST and JDST are making headway. However, geopolitical instability or a Trump tweet could change things instantly. Nevertheless, the action in miners today bolsters our analysis. DUST prices could reach $36.00+ in May, and I presented the potential target area for JDST. These trades are countertrend and therefore […]
Continue Reading →10:51 AM – Metals and Miners are exhibiting continued signs of weakness today. If prices remain under pressure, we could see gold finally close beneath the 10-day EMA. There’s lots of trading left; let’s see how prices respond. 11:39 AM – Crude oil is breaking below the $52.70-$52.50 level. I removed the remainder of […]
Continue Reading →Gold reached a high of $1,297.40 in overnight trading and prices are back down to where they closed Thursday ($1,288). Silver reach $18.65 and has fallen back to around $18.54. Gold needs to break below $1,273, and silver needs to drop below $18.24 to promote a breakdown in price. -SILVER COT REPORT- I […]
Continue Reading →It’s disappointing when precious metals diverge from my forecast. When this occurs, I spend countless hours pondering the charts and various cycles seeking answers. I want our members to be informed, and if I’m wrong, I will readily acknowledge it. Here’s what I think happened. The missile strikes in Syria are likely extending the […]
Continue Reading →Miners rallied nicely yesterday, further endorsing interim lows. However, gold and silver are yet to establish proper swings and the potential for a decline after the FED meeting remains. In the Weekend Newsletter, I noted how gold and silver had a tendency to bottom shortly after the rate hike. The odds for a rate […]
Continue Reading →Miners are testing yesterday’s highs, and we may have an interim low if prices close above them. A bounce should last 1-2 weeks. The first line of resistance arrives around $23.00. -GDX- Prices are testing yesterday’s high. A daily cycle low is likely if prices hold this level or better into the close. The […]
Continue Reading →The employment numbers arrived at 235,000, with a 4.7% unemployment rate; a positive report. Gold and Silver are beginning to rally. If miners close above yesterday’s high’s, then we should have a daily cycle low. Prices should rally for 1-2 weeks, once the low is established. I’ll assess the rally/bounce for strength and durability. […]
Continue Reading →Each day we inch closer to a daily cycle bottom in metals and miners. Prices are far enough from the recognition day that any close above the previous day’s high should signal the low. How prices bounce/rally out of the approaching low will determine the next 2-3 months. -GDX- A close above $21.64 […]
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