The stage is set – metals and miners are positioned for a final decline into early December. All we need is a little downside follow-through tomorrow or early next week. The Gold Cycle Indicator closed at 107. If we get one more dip, the GCI should approach the 50 level and maximum bottoming. If […]
Continue Reading →Our proprietary Gold Cycle Indicator (GCI) was designed to help navigate the 6-month cycle in gold. The numerical value in the center of the gauge ranges from 0 – 450, and rises and falls with the price of gold. A high number supports conditions ripe for a top – a low number, a bottom. […]
Continue Reading →I’m leaving tomorrow for a 2-day trip. Internet access and email will be limited. There will be no Thursday report. I return Friday and will update Plus and Premium members before the close. Gold futures slipped to a low of $1446.20 before prices began to bounce. Gold is back up to $1457 as […]
Continue Reading →Gold declined to $1483.10 after yesterday’s 2:00 PM Fed announcement and then suddenly reversed at 2:40 PM. Futures are trading around the $1515 level as I write. Primary levels of resistance remain between $1520 – $1545. The dollar is breaking lower from the bear flag, and prices are approaching the lower support boundary. A […]
Continue Reading →Gold futures continue to work their way lower after peaking in September. The topping process appears complete, and the next wave of selling could begin any day. I went over the 4-stages of an intermediate correction in the Weekend Newsletter. Today, I’d like to revisit gold’s cyclical nature. If you study the markets long […]
Continue Reading →On Friday, the Trump administration announced a partial trade deal with China. I think this was the news event we need to trigger the next phase of the decline in metals and miners. The correction process into a 6-month low is usually involved — more times than not, its an exercise in patience. Typically […]
Continue Reading →At the beginning of a bull market silver commonly lags gold prices – that’s nothing new. The lag lasts about a year before silver goes on an epic run to catch its big brother. The breakout in gold above $1400 started the countdown to an explosive move in silver that could begin later this […]
Continue Reading →Gold futures are holding support around $1500 ahead of tomorrow’s Fed decision. Our intermediate cycle work supports a correction into October or November. A breakdown below $1490 in gold futures would signal the next leg lower in precious metals. Intermediate corrections are natural. In gold, prices tend to bottom about every 6-months (give or […]
Continue Reading →Gold confirmed a new bull market in June 2019. The current cycle likely peaked last week after surging nearly $300 since May. Next, we should get a multi-week correction into October/November and perhaps a backtest of the breakout area surrounding $1380. COMMITMENT OF TRADERS: The commercials (smart money) are positioned heavily against gold […]
Continue Reading →The trade war between the U.S. and China escalated Friday when China announced new tariffs on $75 billion of U.S. goods. Trump retaliated and ordered U.S. companies to find an “alternative” to operating in China. Later, President Trump announced he would raise tariffs on $250-billion of Chinese imports from 25% to 30% starting October […]
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