Category: Free Updates

GOLD PRICE UPDATE

Wed, 1 Jul 2020

  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 […]

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MORNING GDX UPDATE

Mon, 22 Jun 2020

  -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.

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WEEKEND NEWSLETTER MAY 31, 2020

Sun, 31 May 2020

  I think metals and miners are approaching a cycle top. Silver has been leading gold higher, and that often happens at the end of an intermediate-term advance.  To extend the current advance, gold would have to break decisively above $1800 and silver above $21.23 (the 2016 high). With the stock market’s rebounding, fear and […]

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WEEKEND NEWSLETTER MAY 17, 2020

Sun, 17 May 2020

  The market meltdown in March skewed the cycle for gold. Initially, I expected a cycle low at the end of May. Now, I think the sequence may be inverting, and we could get a top at the end of May instead. I’ll be on the lookout for a marginal break above the April $1788.80 […]

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WEEKEND NEWSLETTER MAY 10, 2020

Sun, 10 May 2020

  The stock market continues to price in a V-shaped recovery, which I find very unlikely. More and more companies are filing for bankruptcy every week, and I see that trend continuing. The destruction to the economy will likely take one to two years to fully realize. What we are witnessing is something called creative […]

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CLOSING UPDATE

Wed, 25 Mar 2020

-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. […]

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BE CAREFUL PICKING A BOTTOM

Tue, 17 Mar 2020

  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 […]

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MORNING CRASH UPDATE 10:55 AM

Mon, 16 Mar 2020

  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 […]

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FED CUT RATES OVER THE WEEKEND

Sun, 15 Mar 2020

  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 […]

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SUNDAY NEWSLETTER MARCH 15, 2020

Sun, 15 Mar 2020

  Last week will go down in the history books as one of the most violent and volatile weeks in stock market history. I hope you survived it. Precious metal prices collapsed throughout the week, especially on Friday. I’m curious to see next week’s COT report. I bet the commercials reduced their short positions dramatically. […]

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