Category: Free Updates

TUESDAY REPORT JULY, 2 2019

Tue, 2 Jul 2019

  President’s Trump and Xi met at the G20 and announced they wouldn’t increase tariffs as they attempt to restore trade negotiations. The dollar and stock market responded positively; gold tanked. The kneejerk reaction in gold was reversed entirely today. I think the rally in metals and miners can extend if we get decent upside […]

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WEEKEND NEWSLETTER JUNE 30, 2019

Sun, 30 Jun 2019

  Gold reached several milestones in June 2019. Prices finished the month and subequally the quarter above $1400. The MACD for the quarterly gold chart crossed over bullishly for the first time since 2013. After an arduous 6-year bottoming process, I think it’s safe to say gold started a new bull market. Now, that doesn’t […]

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THURSDAY REPORT JUNE 27, 2019

Thu, 27 Jun 2019

  Gold is holding above $1400, and it feels like prices are consolidating the recent moves. The dollar is below its key 200-day MA. I see the potential for a small bear flag. If the dollar breaks lower, then we could see another jump in metals and miners. Platinum could be forming a W-bottom. Closing […]

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MORNING GOLD UPDATE 9:10 AM

Thu, 27 Jun 2019

  Gold futures reached a high of $1442.90 on Tuesday. Prices slipped after the Fed walked back some of the markets rate cut expectations, likely profit-taking. Currently, gold is testing the first support level between $1400 and $1404. To maintain the potential for a runaway move, I think that area needs to hold. If it […]

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TUESDAY REPORT JUNE 25, 2019

Tue, 25 Jun 2019

  Gold reached $1442.90 intraday before profit-taking sent prices back to test the short-term break out near $1416. In the June 9th newsletter, I wrote, “If gold breaks higher, a short covering bonanza could take prices quickly $1450.” We nearly reached that level today. The recent momentum thrust in gold and miners was quite powerful; […]

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AFTERNOON GOLD UPDATE 2:05 PM

Tue, 25 Jun 2019

  The 1-hour gold chart is backtesting yesterday’s breakout above $1416. It looks like buyers stepped in near $1417 (currently $1425.90). Spot prices would have to slip below $1416 and then break support between $1400 – $1404 to recommend a potential reversal. The final near-term support level sits at $1385. A close below that would […]

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MORNING UPDATE JUNE 20, 2019 (9:00 AM)

Thu, 20 Jun 2019

  Spot gold is currently trading around $1387. Last night’s spike to $1397.70 registered a new multi-year high. On the surface, it looks like gold prices are finally breaking out. But as we are well aware, the market manipulators and algo’s are masterful at painting the tape to get people on the wrong side of […]

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IS GOLD BREAKING OUT OR ABOUT TO GO BUST?

Wed, 19 Jun 2019

  Spot gold prices are jumping as I write, currently at $1387 (prices touched $1397.70 shortly ago). Where prices open tomorrow (9:30 AM) will be enlightening. Maintaining $1387 – $1397 through Friday would support a significant breakout. But if prices slip overnight and open tomorrow below $1362, I’d suspect a top and pile on the […]

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WEEKEND NEWSLETTER JUNE 9, 2019

Sun, 9 Jun 2019

  Gold is testing its major breakout level, and it’s fate likely depends on the result of the June 19th Fed announcement. What they decide will determine if gold breaks immediately higher or if prices will top and slip back to support between $1200 – $1220 this fall. If gold breaks higher, a short covering […]

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WEEKEND NEWSLETTER 6/02/2019

Sun, 2 Jun 2019

  Gold prices broke higher on Friday over stock market fears. Prices closed above $1310, and it looks like the 6-month low bottomed in May. Gold miners broke higher from their triangle consolidations at the 45-day cycle turning point. A little upside follow-through next week will support a new advance. Silver and Platinum are lagging […]

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