The Markets Continue to Thrash About, Volatility Jumps *Earlier today, OPEC announced they were unable to reach an agreement. Oil prices plunged and are down over 8%. *Gold spiked to $1690.70 on the better-than-expected payroll numbers (273,000 vs. 165,000) before reversing sharply after 10:00 AM. Prices plunged t0 $1642.40 before bouncing (currently $1665). […]
Continue Reading →Trying to make sense of these markets is impossible. If I told you U.S. stocks would crash 14% in one week – how high do you suspect gold would jump? $50…$100…$150? I would guess at least $100 but probably more. Nope – Gold prices are down over $50.00 on Friday. All week I’ve been […]
Continue Reading →The gold cycle indicator finished the week at 358 and within the range of minimum topping. What’s that mean? It means gold has met the minimum requirements for a cycle top. Now that doesn’t mean prices will peak immediately. It merely suggests the 6-month cycle is nearing maturity, and we should start preparing ourselves […]
Continue Reading →Little changed in precious metals, prices continue to consolidate. I do see a correlation in gold that could imply an upward breakout within the next 1 to 3 trading days. A daily close above $1600 would reinforce this view. Since little changed concerning gold, I’d like to spend some time talking about Tesla and […]
Continue Reading →Gold spiked to $1613.30 over geopolitical concerns before reversing on Wednesday. It looks like the trend is finally taking a breather. INTERMEDIATE TREND: We are about 2-months into the current 6-month cycle. The trend should remain higher into February and likely March before peaking. Depending on when/where prices peak, I don’t expect the next […]
Continue Reading →Gold confirmed a new bull market in 2019, but most investors remain distracted. Record low gold eagle coins sales support a psychological turning point in 2020. I’ve made a living being a contrarian investor. The underlying principle is straightforward: Figure out what the public is doing/not doing and do the opposite. Why – because […]
Continue Reading →In 1986 the US mint began producing gold eagles. Below are the total gold ounces sold each year. In 2006, they began striking 1oz gold buffalo coins in addition to standard eagles. The numbers starting in 2006 reflects eagles and buffalo mintages combined. These numbers are from the US mint website and Wikipedia. I […]
Continue Reading →The first half of the weekend report (below) will cover the usual content. The second half will examine US retail gold sales; I think you’ll find it interesting. WEEKEND REPORT DECEMBER 8, 2019 Get ready for an exciting week. There’s zero chance the Fed will change rates in December. The December 15th tariff […]
Continue Reading →In the October 31st report, I mentioned how gold had been forming interim highs/lows in the opening days of a new month. Gold peaked the very next day (November 1st), and the dropped to $1446.20 by November 12th. Well, we are in the timing window for another reversal – what happens over the next 2-3 days […]
Continue Reading →Cycles & Terminology I remember when I first discovered cycles – it was like a lightbulb went off, and everything started to make sense. I learned that if you can find the natural rhythm of a financial asset, then timing that market gets a lot easier. For example, if a stock or commodity […]
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