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 […]
Continue Reading →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 […]
Continue Reading →The cleanest cycle I can find is the XAU junior mining index. Prices have formed turning points every 45-trading days since September. It arrives again May 31st and should time the next low. -XAU- The 45-day cycle in the XAU has been quite accurate timing the last four turning points. The next one is […]
Continue Reading →Metals and miners are bouncing as the stock market and oil selloff. Yesterday’s weakness in miners looked like the beginning of a pattern breakdown. Today, miners are higher, and anyone that bought the bearish breakdown is underwater. I remain focused on the last week of May for a probable cycle turning point. If stocks […]
Continue Reading →The markets feel like a coiled spring waiting for the next news event. The multi-week consolidation pattern suggests prices will either break higher or we will see a terminal 6-month decline to around $1240 and $1255 in late May. The next big market reaction will determine which way prices break. At the moment (10:31 […]
Continue Reading →The Fed left interest rates unchanged- no surprise. They noted inflation was below their 2% goal. That could open the door for a rate cut later this year. The dollar declined after the news. Gold turned positive momentarily, but prices may be reversing back lower. The 4-hour gold chart remains in a descending […]
Continue Reading →Markets want to know if the Fed will cut rates in 2019. Currently, markets are pricing in about a 41% chance of at least one rate-cut in 2019. They announce Wednesday; no rate hike/cut is expected. GDX UPDATE–> Gold and miners may get a little tricky before Wednesday’s Fed announcement. Closing below $20.20 […]
Continue Reading →Platinum could be working on a breakout. Prices pulled back and successfully retested the $880 level. A rally above $930 would trigger a breakout above the medium-term trendline. The 200-day MA is beginning to turn up. Maintaining $880 is critical.
Continue Reading →I’m still not convinced gold and silver are breaking down, just yet. The 4-hour gold chart is trying to reverse near the $1275 level. An intra-day bullish engulfing candle formed after gold struck $1273. The MACD (bottom indicator) is crossing over bullishly with a mildly positive divergence. 4-HOUR GOLD CHART: To support a […]
Continue Reading →Good Morning, I get the sense metals, and miners will either find support near $1275 and bounce or break directly lower within the next few days. Scenario 1) Upside target between $1360 – $1380 Scenario 2) Downside target between $1225 – $1250 I’ll update again later.
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