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 posted a price forecast at www.goldeagle.com. It includes timing information that backs the second week of October for a low. Most of the information you already know. However, deeper analysis supports October 10th as a key date. GOLD FORECAST: Prices Are Setting Up For An October Low Several factors support an […]
Continue Reading →I was hopeful gold would regain the $1,300 level and rally into October. Prices jumped to $1,317 yesterday but slipped immediately back below $1,300. Failing to retake $1,300 provided valuable clues regarding the current cycle count. If correct, metals and miners should decline for another week or two before reaching the next cycle low. […]
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 →Metals and Miners are testing Tuesday’s spike just before tomorrow’s non-farm payroll report. Increased volatility is likely. Where prices close the day is key. The MFI indicators for both gold and silver have diverged negatively since the beginning of August. This doesn’t guarantee an interim top, but it signifies a fading cycle. It’s not […]
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, […]
Continue Reading →The gold cycle has been topping every 34-35 trading days. It has been 36 trading days since the June $1,298 high. The sequence is ripe for a peak. Forming a swing high is the first step in achieving a top. The Dollar dropped to major support at 93.00; prices are well-overdue for a rebound. […]
Continue Reading →We are seeing subtle signs of topping today in metals and miners. The Dollar tested significant support around 93.00 and is trying to rally. Gold and Silver could form swing highs if they close below today’s intraday low’s tomorrow. -GOLD CYCLE HIGHS- Gold has been topping every 34-35 trading days. If the cycle count […]
Continue Reading →Metals continue their rebound. The rally in miners lacks conviction and trading volume is light. We still expect another decline in metals and miners. 10-year Treasury yields dropped to fill the June gap after breaking out. If yields bottom and begin to rally, metals and miners should start to rollover. -US DOLLAR- Prices […]
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