Futures reached an intraday high of $1807.70 before sinking back below $1800 (currently $1778). As long as prices stay below $1820, a top is becoming possible. To help promote a top, I’d like to see prices first close below $1770, but a breakdown below $1750 is needed to confirm. GOLD DAILY TARGET: To support […]
Continue Reading →-GDX- Miners gapped above the $34.00 price level and the short-term trendline. If today’s gap holds (prices stays above $34.00), we could have a short-term breakout. Reminder- A top in gold is possible this week if futures fail to breakout above $1800.
Continue Reading →The Educational Metals Portfolio is a long-term accumulation strategy designed to reduce trading stress and improve long-term gains. The Educational Metals Portfolio is for informational purposes only and should not be construed as a solicitation or offer to buy or sell any financial instrument. Consult a licensed and qualified professional before making any investment […]
Continue Reading →-GDX- Miners are at critical resistance. Prices closed above the gap and above the $25.50 level, but below the 50-day EMA. If this is a convincing rebound, as I suspect, then prices should turn lower by tomorrow or Friday. A powerful surge above the 200-day would imply a breakout, and I’d consider a long position. […]
Continue Reading →The urge to jump into gold and miners may be overwhelming for some investors. I suggest caution as the first wave of bottom pickers usually regret their decision. I’ve been doing this for a while, and I’ve seen massive swings in precious metals. Through experience, I learned to be patient and to wait for […]
Continue Reading →Several miners and silver companies are rallying or near positive territory despite sharply lower precious metals (paper price). Premiums on bullion have jumped. I want to see if the morning boost is just a gap fill or real demand. It was a long scary weekend for people. So, if it’s just retail traders freaking […]
Continue Reading →In an unexpected move ON Sunday, the Federal Reserve announced it is dropping its benchmark interest rate to zero (was 1.00%) and will be launching a new round of quantitative easing. The QE program will provide $500-billion worth of asset purchases, including Treasury’s and mortgage-backed securities. It’s unclear what this will do to the […]
Continue Reading →Trying to make sense of these markets is impossible. If I told you U.S. stocks would crash 14% in one week – how high do you suspect gold would jump? $50…$100…$150? I would guess at least $100 but probably more. Nope – Gold prices are down over $50.00 on Friday. All week I’ve been […]
Continue Reading →Gold futures are trying to hold support near $1500 ahead of next weeks Fed announcement. Our intermediate forecast supports a pullback into October/November. A backtest of the $1380 breakout area could become one of the last great buying opportunities. Sometimes one chart can some up years of commentary. For an eagles-eye view, I prefer the […]
Continue Reading →Gold probed the upper limit of the resistance band between $1525 – $1550 reaching $1546.10 this morning before falling apart. Futures collapsed to $1488.90 by 10 AM and prices are bouncing. Yesterday’s breakout above $1525, followed by today’s dynamic reversal supports an interim top. Silver reached $17.49 before collapsing to $16.51 intraday. The short-term […]
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