Rick Ackerman

Articles by Rick Ackerman

Buyers extended Wednesday’s perplexing rally — perplexing because if gold were acting normally, it would be falling on Wednesday’s headline news of a 25-basis-point rate hike by the Fed. Rising returns on risk-free paper are supposed to...
Our downside target for the near-term is 1156.60, a ‘midpoint’ Hidden Pivot that comes from the weekly chart. April Gold had a chance to rally out of the hole this week from a bouncy-looking pivot at 1195.40. Instead, the futures popped...
Buyers exceeded my 2333.75 minimum upside objective by a decisive four points on Tuesday, meaning it’s time to raise our sights.  We need only slide down to a new point ‘A’ — in this case, a 2177.00 low recorded on December 5 (see inset...
Banksters and others with a stake in the euro shouldn’t get their hopes too high, since the long-term charts point unambiguously to a target just below 82 cents (see inset). There will be rallies, of course, since sellers are piling onto...
The inflation drumbeat has grown more insistent lately, stoked by Fed blather about raising rates to prevent the economy from overheating. Yeah, sure. I’m not buying any of it, particularly statistics that purport to show inflation even in...
It’s late Monday night and April Gold has stolen up on the 1237.70 ‘external’ peak (see inset) that I wrote here yesterday was crucial to the short- to intermediate-term picture.  The so-far high has precisely tied the peak, but it would...
Gold finished yesterday with a sharp upswing, but not before gratuitously inflicting pain on bulls with a $15 swoon early in the session. If the rally is ruled by the pattern shown as I expect it to be, the futures should hit 1219.10 ...
February Gold did everything we asked of it on Friday, clearing the way for a push to the 1226.90 target given here earlier. As always, a move that easily exceeds the target, in this case by perhaps $2-$3, would affirm the robustness of...
Within the next day or two we should have more evidence to tell us whether the rally begun in late December is the real deal. If bulls have any moxie, they’ll push this vehicle above the 1223.50 peak (see inset) without much ado. Still ...
Gold’s robust rally paused for just long enough on Wednesday to discourage bulls — including your editor, who had advised a long position in GDX with a stop-loss far more generous than is typical for a Rick’s Picks trade. Unfortunately,...

Pages

Gold is found in nature in quartz veins