The dollar broke sharply lower Friday and closed below the September 90.99 low. Breaking that low, in our opinion, confirms a new bear market in the dollar. Our cycle work suggests the dollar should trend lower into 2023/2024. A multi-year dollar bear market should propel gold and silver to new all-time highs. I reinforced […]
Continue Reading →I’m changing the color codes on miners to “ADD TO POSITIONS.” Prices have declined to support around the moving averages. Metals have declined minimally. I’d like to see a little more price action before I add to USLV. -JNUG- I’m adding 1/2 of my remaining JNUG position now at $16.59. If prices sink a […]
Continue Reading →Metals and Miners formed significant lows in December and prices should rally sharply in 2018. The dollar is breaking support and likely started a new bear market. Commodities, in general, should be embarking on a multi-year advance. Gold is at resistance. Closing the week above $1,300 would be very productive. Failure to break above […]
Continue Reading →Metals and Miners continue to rally out of the December lows, and a significant bottom is possible. There is still a lot more work to be done so we should curb our enthusiasm. But, I think we will look back at this period as an excellent opportunity. And if I’m correct, this could be […]
Continue Reading →It looks like Bitcoin topped and prices are down 30% as I write. After surpassing $15,000 in December, the next logical level to strike was $20,000. Prices fell short reaching $19,891.00 before running out of buyers. Here is a snapshot of Bitcoin on December 17th when I thought prices may have topped. Here is […]
Continue Reading →Gold is testing an important resistance level, and we should soon know if prices bottomed. Silver is struggling around the $16.18 level, but prices are holding above the 10-day EMA. GDX is at resistance and prices could breakout or decline from here. Junior miners look sturdy and retain the most potential if prices indeed […]
Continue Reading →We believe 2018 will be the breakout year for metals and miners. The initial bull market advance occurred in 2016. Miners exploded off their 2016 lows and needed 2017 to recover. The consolidation phase in nigh complete and they are positioned for the second advance. Prices are close to a low: We may have […]
Continue Reading →Tomorrow is FED day, and we need to be on our toes. Timing wise, I expected gold to reach a 6-month low about now. A decline to around $1,200 seemed logical after breaking the October low, but we are $45.00 above our target. Prices would have to decline sharply tomorrow and (or) Thursday to […]
Continue Reading →Gold finally broke the October low, and prices should bottom within the next 1-4 weeks. A low is possible next week if prices suddenly spike below $1,215. In December 2015/2016 gold bottomed 1-day after the FED’s rate hike (see rate hike chart). Conflicting Data: Rate hike timing supports a low next week, but the […]
Continue Reading →Gold has officially broken the October $1,262.80 low (currently $1,258). I prefer to see prices close (at least twice) below a critical level before considering it thoroughly defeated. Despite the recent weakness, we are yet to see panic selling. Perhaps, gold needs to drop below $1,250 to scare the bulls truly. Nevertheless, we are […]
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