Miners held up well, relatively speaking, as gold declined in May and June. In July, psychology shifted, and miners began overreacting to the downside. For example, gold declined just 0.75% last Thursday, but miners finished 3%+ lower. To support a meaningful bottom, miners need to begin overreacting to the upside. We see a little […]
Continue Reading →Gold is at a pivotal point. Prices dropped $200 since April’s botched breakout attempt. We have a failed cycle and prices collapsed below support at $1200. The moving averages are down and trending lower. The charts – well are frankly bearish. Gold needs to mount a miraculous turnaround to revive the bullish potential. Factors […]
Continue Reading →After several months of weakness, precious metals are finally beginning to perk up. It’s the first time in a while gold reacted positively to Fed-related news. It feels like a fundamental/physiological shift may be taking hold. I believe last weeks $1167.10 low in gold was the much belated 6-month low. Currency fluctuations, record short-selling, […]
Continue Reading →The MACD in GLD is breaking out supporting an intermediate low.
Continue Reading →Powell’s speech didn’t directly speak to a December rate hike. However, he did address some weakening trends and stated that he doesn’t want to make a policy mistake (to paraphrase). I took that to mean that if the economy begins to roll over, the fed may pause their rate hiking agenda. What a brilliant […]
Continue Reading →Gold (December) reached an overnight low of $1189.50. Prices are bouncing (currently $1199). As long as the $1189.50 low holds, I’ll consider this a routine pullback in a developing uptrend. Below $1189.50 and more downside becomes likely. In the coming hours, gold needs to push its way back above $1200 and $1205 to promote […]
Continue Reading →I believe tomorrow will be a decisive day and much hinges on Fed chairman Powell’s 10:00 AM speech. President Trump has hinted that he wants the Fed to back off on increasing rates. I doubt they will listen, but you never know. Like I said, a September rate hike is already baked in. Everyone […]
Continue Reading →The pattern following the parabolic 2011 top in silver is similar to what we currently see in Bitcoin. After a parabolic top, there is an initial crash, then a long sideways consolidation before a secondary collapse. -SILVER POST BUBBLE COLLAPSE- Notice how silver bounced off the $26.00 support several times. Each post-bubble rebound […]
Continue Reading →Metals and Miners are inching their way higher. It will take time to determine if this is just an ordinary rebound lasting 1-2 weeks or the start of a more meaningful advance. If you didn’t get a chance, check out the 2016/2018 gold correlation chart. Prices reached their lows 3-trading days ago; we are […]
Continue Reading →The 2018 price pattern in gold continues to mimic the 2016 Q3/Q4 model. The 2018 design has taken more time, but prices have hit the relevant benchmarks. Virtually everyone is bearish on gold and looking for a decline to $1050 and lower. We heard the same calls back in December 2016. Maybe the bears […]
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