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 […]
Continue Reading →Several miners and silver companies are rallying or near positive territory despite sharply lower precious metals (paper price). Premiums on bullion have jumped. I want to see if the morning boost is just a gap fill or real demand. It was a long scary weekend for people. So, if it’s just retail traders freaking […]
Continue Reading →In an unexpected move ON Sunday, the Federal Reserve announced it is dropping its benchmark interest rate to zero (was 1.00%) and will be launching a new round of quantitative easing. The QE program will provide $500-billion worth of asset purchases, including Treasury’s and mortgage-backed securities. It’s unclear what this will do to the […]
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 →Gold futures are trying to hold support near $1500 ahead of next weeks Fed announcement. Our intermediate forecast supports a pullback into October/November. A backtest of the $1380 breakout area could become one of the last great buying opportunities. Sometimes one chart can some up years of commentary. For an eagles-eye view, I prefer the […]
Continue Reading →Gold probed the upper limit of the resistance band between $1525 – $1550 reaching $1546.10 this morning before falling apart. Futures collapsed to $1488.90 by 10 AM and prices are bouncing. Yesterday’s breakout above $1525, followed by today’s dynamic reversal supports an interim top. Silver reached $17.49 before collapsing to $16.51 intraday. The short-term […]
Continue Reading →Gold futures broke higher from the consolidation pattern reaching $1531.50 intraday (currently $1523). Gold miners (GDX) are down 1.11% as I write and making fresh intraday lows. The non-confirmation is a warning. Gold would have to extend above $1535 to maintain today’s short-term breakout. Slipping back below $1510 would signal a potential top.
Continue Reading →Wednesday’s surge in gold above $1500 was fueled by stock market fears and a capitulating bond market. The 10-year treasury yield crashed to 1.59% on Wednesday, and an interim low is likely. TREASURY YIELDS CAPITULATE: The move below 1.95% in 10-year treasury yields triggered multiple capitulation signals. The selloff reached a panic extreme […]
Continue Reading →The June breakout above $1370 signaled a new bull market in gold. The initial surge took gold to $1442.90 before prices entered a running consolidation. A “running consolidation” has an upward bias due to enthusiastic buying versus a traditional downward sloping correction. Monday’s close above $1470 registered a short-term breakout, and this wave higher […]
Continue Reading →-GDX- Miners appear to be breaking higher as spot gold is testing the upper triangle boundary near $1425. -GOLD 4-HOUR CHART- Miners and silver are leading gold higher. To confirm the next up leg in metals, gold needs to close decisively above $1425 and then take out the June $1442.90 high. Failure to make […]
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