The dollar broke sharply lower Friday and closed below the September 90.99 low. Breaking that low, in our opinion, confirms a new bear market in the dollar. Our cycle work suggests the dollar should trend lower into 2023/2024. A multi-year dollar bear market should propel gold and silver to new all-time highs. I reinforced […]
Continue Reading →We believe 2018 will be the breakout year for metals and miners. The initial bull market advance occurred in 2016. Miners exploded off their 2016 lows and needed 2017 to recover. The consolidation phase in nigh complete and they are positioned for the second advance. Prices are close to a low: We may have […]
Continue Reading →Gold finally broke the October low, and prices should bottom within the next 1-4 weeks. A low is possible next week if prices suddenly spike below $1,215. In December 2015/2016 gold bottomed 1-day after the FED’s rate hike (see rate hike chart). Conflicting Data: Rate hike timing supports a low next week, but the […]
Continue Reading →Gold jumped to $1,292.50 on Friday as the stock market briefly collapsed. Stocks recovered, and gold retreated. Precious metals will remain under pressure if stocks remain buoyant. Our primary analysis has called for a breakdown in gold. The ideal scenario expected a decline in gold below $1,262 (the October low) and subsequent bottom in […]
Continue Reading →Metals and Miners declined Friday. They could be setting up to break the October lows next week. Gold dropping below $1,262 will sustain a drop to $1,180 – $1,205 over the next several weeks. If established, prices should bottom in early to mid-December. The weekly gold chart illustrates a low-profile “V” shaped basing pattern. […]
Continue Reading →Gold is inching closer to the October low. It’s been 20-trading days since the previous low (October 6th), and I see two potential outcomes. Scenario 1- Gold formed a short-term top on Thursday, the 19th trading day. If so, prices should break the October low ($1,262) and proceed lower. Scenario 2- Gold is yet […]
Continue Reading →Gold and Silver performed well after their October 6th reversals. Gold finished the week above $1,300 and produced a weekly morning star pattern (bullish candle formation). Silver rallied 3.70% closing back above its 200-week MA. Last weeks rally was encouraging but not enough to confirm meaningful lows. Miners were weak relative to gold and […]
Continue Reading →I’d like to start the Weekend Newsletter with a big picture review of the gold and silver markets. It’s easy to get lost in the day-to-day fluctuations. When cycles stretch, I find taking a step back essential. Below is a snippet from the 6/17/2017 WEEKEND NEWSLETTER. -2017 BREAKOUT?- The multi-year correction is similar to […]
Continue Reading →It’s been one fake-out after another in the precious metal sector. Investors have been awaiting a major breakout in gold once prices climbed above $1,300. Friday’s rally reached $1,306.90 and promptly reversed, potentially creating a bull trap. Likewise with miners. GDX gapped higher in the morning only to end below the previous days low. […]
Continue Reading →Metals and Miners showed signs of topping after Friday’s employment report. Weekly dollar prices spiked down to the 200-week MA and reversed. If the dollar finally bottomed, we should see a 4-8 week recovery. Metals and Miners should soften as the dollar bounces. The dollar broke key technical support during the 7-Month decline. Consequently, […]
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