Category: Free Updates

TUESDAY REPORT AUGUST, 4 2020

Tue, 4 Aug 2020

  The Dollar and Gold remain near potential reversal levels. The daily RSI (14) in the Dollar dropped below 20 last week, supporting the potential for a near-term bottom. Gold is above $2000, and we could see prices spike higher over the next 72-hours. Friday’s employment report could be the trigger event. We are in […]

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GOLD AND DOLLAR UPDATE

Tue, 4 Aug 2020

  I see the potential for a spike high in gold this week. The days surrounding Friday’s employment report are crucial. If the dollar bottoms around 92, that could trigger a multi-week correction in gold, potentially severe. The US dollar spiked to 103.96 during the March liquidation. Prices are down over 10% from that peak; […]

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WEEKEND NEWSLETTER JULY 26, 2020

Sun, 26 Jul 2020

  Gold prices are within striking distance of the all-time high set in 2011 ($1923). In my opinion, it would be unusual for prices to breakout to new all-time highs on the first try (typically there is a prolonged consolidation). Consequently, I still think prices could peak and begin a correction back towards $1550. Note: […]

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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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