After a failed breakout attempt, the gold price has fallen back into the holding pattern which was established last month. While it may be frustrating for some investors that gold remains locked in a tight trading range, the lack of forward progress in recent weeks...
Gold Editorials & Commentary
July 29, 2019
Last year 22 central banks, situated largely to the east of Germany, bought the largest amount of gold since 1967, the year the London Gold Pool collapsed. The gold repatriations by many European countries of the last few years are another sign that we are reaching...
Lately, the market trend has been reduced to a grinding move to new highs – or is it really “the market”? Inspired by a new high in the Nasdaq 100, SPX made a new high this past week! But the Dow did not! And the NYSE composite – the broadest exchange of all –...
July 28, 2019
Stocks are finishing multiple patterns of varying degrees of trend that look close to completion. Patterns are the market speaking to us. Markets know where they are headed next. These patterns are the accumulated price action from all investors everywhere with all...
As I expected, after bouncing off the bottom of an 18% correction late last December, and a minor 7.5% correction on May 31st, the Dow Jones is losing steam as it began making new all-time highs in early July. Taking into consideration how many years this advance...
Per last week's missive, "Silver, Baby!" clearly has been the precious metals story since mid-month. But with the white metal having slowed her week's acceleration to just a +1.1% gain versus that of +6.5% the week prior, we skew our analysis back toward the yellow...
July 27, 2019
Our proprietary cycle indicator is up. Gold sector is on major buy signal. GLD is on short-term buy signal. GDX is on short-term buy signal. COT data on gold is now at levels of previous tops.
Gold rose to a six and a half year high in euros at €1,288/oz yesterday prior to giving up the gains as it succumbed to profit taking in volatile trading during and after the ECB meeting.
July 26, 2019
The entire precious metals market moved sharply lower yesterday. Silver erased more than it had gained on Wednesday and mining stocks broke below their rising support line. All this happened while gold closed below $1,420 for the first time this week and after it...
Everyone is discussing recession right now. But how much do they actually chatter about it? Does this talk reflect or change people’s perception? And the key question is: can the world-related indices predict the recession? Are they useful for the precious metals...
Here are today's videos and charts:
Individuals dream about winning the lottery, stock market profits, reducing debt, earning more income, attractive sex partners, and tasty food. But our dreams can turn into nightmares filled with inflation ghosts and monsters.
There was a time long, long ago when the mention of the word “baby-boomer” evoked a sense of pride of membership. Amidst the prosperity of the post-WWII era, birth rates in North America soared while the sons and daughters of many men and women that fought in the...
For all of 2019, I have been watching one analyst after another suggesting investors “fade” the rally in bonds. And, of late, these voices have been getting louder and louder, as I just read yet another article calling for the “Great Unwind” in the bond trade.
Last weekend, the important point of note was that silver had basically run out of room. It had a series of 1’s and 2’s set up for it to “melt up,” but it had to do so rather soon.
July 25, 2019
How low will they go? With the Federal Reserve all but certain to cut interest rates multiple times in the months ahead, central bankers are engaged in a race to the bottom.
One month ago, gold made a dramatic move above a three-year consolidation (delineated by the pecked lines in Chart 1), confirming for technical analysts that a bull market in gold dating from the December 2015 low at $1,050 is alive and well. Chart 1 shows that a...
Add to stock market bulls’ wall of worry a drop in West Coast home prices for the first time in seven years. This is part of a larger trend that saw U.S. home sales down 2.2% compared to a year ago. That’s the 16th straight month of annual sales declines, even as...
The 75th Anniversary of the Bretton Woods Agreement is now upon us. Trouble is now for almost 50 years; the world has been running on a volatile boom-bust fiat currency, increasingly financialized, monetary and credit standard.
July 24, 2019
Texas Instruments reported its Q2 yesterday after the close. Revenues were down 9% YoY for Q2 and management forecast an 11% decline for Q3. The stock market rewarded this fundamental deterioration in TXN’s business model by adding nearly $8 billion to TXN’s...
In this interview with Maurice Jackson of Proven and Probable, Jayant Bhandari presents his world view and discusses how it meshes with investment in the precious metals markets.
Yesterday we wrote about Draghi, so today Powell is our hero. Only one week separates us from the pivotal FOMC meeting. What should gold investors expect?
At least the Financial Times now has come clean about its hostility to gold – as well as to free markets and elementary journalism.
July 23, 2019
In November, Christine Lagarde will replace Mario Draghi as the ECB President. Will gold warm up to her more than to Draghi? It remains to be seen, but one thing is certain: Super Mario will not leave his position just like that. Gold investors should be prepared...
At McDonald’s restaurant, customers can “supersize” their food orders. Can gold supersize its awesome 2019 price action?
It was a huge week for the gold stocks. GDX gained nearly 7% while GDXJ surged over 10%. Gold hit $1450/oz after Thursday before selling off Friday. Silver met the same fate on Friday but managed to close the week up over 6% and at a new 52-week high.
Sterling is under pressure today and gold near all-time record highs in sterling (see chart) due to the likelihood that Britain’s ruling Conservative party will elect Boris Johnson (aka ‘BoJo’) as its new leader and Prime Minister today.
July 22, 2019
The USD Index practically erased its Thursday’s losses, and the precious metals faced stiff headwinds. Silver again outperformed gold, adding more strength to the signal it’s flashing for quite a few days already. Yet, it was gold that gets the crown for presenting...
Breaking News: On July 5, 2019 prices for contracts of paper gold and silver closed at $1,400 and $15.00, a multi-decade gold/silver ratio high. The great financial game continues. What game?
The Q2 earnings season is upon us and the risks to the rally that started after the worst December on record at the close of last year is in serious jeopardy. We received a glimpse of this with some of the current companies that have reported. For example, to...
