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 […]
Continue Reading →Gold and silver remain rangebound after last Tuesday’s outside reversal days. Each needs progressive closes below the 10-day EMA to verify a top. Miners formed swing lows, and prices are bouncing. If prices peaked as I suspect, then this rebound should conclude within then next 1-3 trading days. A rally that finishes above the […]
Continue Reading →With gold confirming a new bull market, it’s time to step back and look at the big picture. Using technical analysis, I’ll provide potential price objectives for the next decade. It seems each decade has an investment theme that favors one asset class over another. What performed well over the last decade generally underperforms […]
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