Gold prices corrected to the 20-day MA, and have satisfied my outline for a correction. Miners and silver are forming high-level consolidations, it doesn’t look like they will drop any lower. We should see prices start to move higher again shortly. -US DOLLAR- The dollar is still consolidating, but it’s now getting close […]
Continue Reading →GLD has touched the 20-day MA, and could find support here. I would be surprised if GLD drops below 124 during this correction. I think it’s safe to buy at these levels. In spot gold, I would grow concerned if prices fell below $1,310. I’m expecting 138+ in GLD later this summer with the […]
Continue Reading →As the update indicated, we are getting a more consistent correction in gold prices than we witnessed last Friday after the jobs report. I don’t expect this to last very long, and gold should stay above $1,300. -US DOLLAR- The dollar is still stuck at the 200-day MA and can’t gather momentum in […]
Continue Reading →I like to update when a noteworthy event occurs. Well, today 10-year Treasury yields dropped to a historical and new low; they will continue to fall until late this year. Negative interest rates (Germany, Japan, and Switzerland, etc.) provoked a rush into the higher yielding U.S. Treasuries, consequently pushing yields lower. We expect yields […]
Continue Reading →GOLD PRICES: THE ROAD TO $10,000 I’ve been hesitant to approve the December 3rd $1,045.40 low as the official 8-year cycle bottom. Nevertheless, gold price closed the second quarter (Q2) above my long-held benchmark (16-Quarter MA) reassuring me that the 4-year bear market in precious metals is over. Warnings were lifted, and gold prices have […]
Continue Reading →Prices made a new closing high today. However, they never closed below the 10-day EMA in mid-June, potentially a sign of strength. Recent cycles have topped after 21-days, and we are currently on day 20. Despite making the new high, I’m not sure prices will stay there for long. I will be watching for […]
Continue Reading →The Brexit vote is in full swing, and we should have an inclination of the results by midnight. The official announcement will arrive between 5:00-6:00 AM EST. Britain will probably remain in the EU, and I think money will start flowing back into stocks and the “risk on” trade might resume. There could always […]
Continue Reading →To no surprise, everything is lining up to either breakout higher or breakdown this week. I think bullish sentiment is very high, and the corrections into the May low’s seemed inadequate. Whichever way prices break following the Brexit vote will determine if the 6-month cycle bottomed in late May or if this move has been […]
Continue Reading →There is a 4.5-year cycle in 10-year Treasury yields you might find interesting. Yields are dropping and will likely reach all-time lows later this year. A Brexit could see a panic pushing yields down to 1% (currently 1.53%). U.S. Mortgage rates should continue lower until yields bottom. Yields should bottom in early 2017.
Continue Reading →Tomorrow is the much anticipated Fed announcement; a press conference is to follow at 2:30 PM EST. There is almost a zero chance they will raise rates at tomorrow’s meeting. Therefore, everyone will be focused on specific verbiage and the press release. Gold could easily breakout above $1,300 tomorrow but with the Brexit vote […]
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