Miners held their gains after 11:00 AM and prices are near the highs of the days. It’s not the spirited recognition day I’ve been expecting, but it’s constructive nonetheless. Ideally, prices will maintain their momentum into the close and set up another rally tomorrow.
Continue Reading →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 […]
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