Category: Free Updates

GOLD FORECAST SEPTEMBER 3, 2020

Thu, 3 Sep 2020

  Metals and miners continue to consolidate ahead of tomorrow’s employment report.  Overall we continue to look for a breakdown in gold below $1900 in September.  The stock market is finally showing signs of weakness, and an interim high is possible. Stocks should remain under pressure into the November election. Expect increased volatility. The dollar […]

Continue Reading →

DOLLAR UPDATE

Tue, 18 Aug 2020

  For gold to drop into the next 6-month low, we need the dollar to stabilize and turn higher. After consolidating for 2-weeks, the dollar is once again slipping to new lows. The trend is incredibly oversold, and prices are down more than 10% since March…we are due for a bounce. I see the potential […]

Continue Reading →

GOLD UPDATE

Mon, 17 Aug 2020

  Is gold starting another leg higher, or is this just a news-driven (Warren Buffet – Barrick Gold), potential Bull Trap before the next decline? The next 48-hours are crucial.   Gold and miners are rallying on news of Warren Buffet’s stake in Barrick Gold (GOLD). Is this story enough to extend the already stretched advance […]

Continue Reading →

GOLD REPORT TUESDAY AUGUST 11, 2020

Tue, 11 Aug 2020

  Last week I noted the potential for a spike-high in gold and silver surrounding Friday’s employment report. Prices peaked at $2089.20 on Friday and immediately began to correct. With the spike high now complete, we should see a multi-week correction into September, followed by another powerful rally.  The near-vertical rise in precious metals over […]

Continue Reading →

THURSDAY GOLD REPORT AUGUST 6, 2020

Thu, 6 Aug 2020

  Gold is about to test the $2100 level while the S&P 500 is nearing its pre-coronavirus February peak. It feels like we are entering a crucial and potentially volatile period. I think things may start to selloff if Congress continues to defer a second stimulus package. Tomorrow’s employment data could trigger a multi-week correction […]

Continue Reading →

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 […]

Continue Reading →

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; […]

Continue Reading →

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: […]

Continue Reading →

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 […]

Continue Reading →

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.

Continue Reading →