Ladies and gentlemen, we have liftoff! After breaking out of a five-year trading range, the price of gold surged above $1,400 an ounce last week for the first time since 2013 on expectations of a U.S. rate cut. The 10-year Treasury yield fell to around 2 percent,...
Gold Editorials & Commentary
June 24, 2019
Let’s start with Frederic Bastiat’s 170-year old parable of the broken window. A shopkeeper has a broken window. The shopkeeper is, of course, upset at the loss of six francs (0.06oz gold, or about $75). Bastiat discusses a then-popular facile argument: the glass...
The third week of June went according to the game plan as the market’s price action just followed the white line projections as we demonstrated in real-time.
What happens to the gold price this week will likely set the trend for the foreseeable future. While many precious metals investors disregard technical analysis and key chart formations, you can bet your bottom dollar that large traders and institutions are watching...
Back on May 24, I authored my first article on gold in quite some time. As I noted in that article, there was not much for me to say until that time, as gold was clearly within the consolidation/pullback phase I had expected months before that.
“If it does move higher from here, there has been enough congestion created over the past few days for it reach between 2930 and 2950 while, during that time, remaining below the two resistance lines.”
June 23, 2019
Welcome to The Gold Update No. 501 ... and one we've been anticipating given what Gold has just done.
Gold busted out sharply higher this past week predictably after finishing its Bullish Cup and Handle pattern we were showing in development for months. Let’s take a look.
Two weeks ago the Dow Jones crashed into its BEV -7.5% line. My reaction to that was to become a bear on the stock market. Now ten NYSE trading sessions later, it’s advanced to within a half of a percent (0.41%) from its all-time high of last October 3rd. I became a...
June 22, 2019
The US Federal Reserve, the country’s central bank, did what many expected on Wednesday, and held interest rates steady, while signaling that a rate cut is on its way.
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. XGD.to is on short-term buy signal.
June 21, 2019
Here are today's videos and charts.
Gold finally surged to new bull-market highs this week! Several years after its last bull high, gold punched through vexing resistance after the Fed continued capitulating on ever normalizing. This huge milestone changes everything for gold and its miners’ stocks,...
Bullion’s powerful rally this week has kicked this popular mining-stock vehicle into high gear. I haven’t tracked it in quite a while but aim to do so now, provided it remains feisty and interesting. In that regard, GDX looks like it’s about to ratchet up the...
Gold prices surged to a new six-year high today after markets digested the U.S. Federal Reserve signaling a move to looser policies and other central banks including the ECB made similar dovish signals.
The Federal Reserve announced they were leaving rates unchanged on Wednesday, June 19. The markets were expecting this or a quarter percent price decrease. Initially, the markets reacted to the news by moving to the downside recently. The markets immediately...
Gold has finally broken out to the upside. In Asia trading on Thursday, Gold exploded through the $1360 to $1370 resistance zone and was able to hold the gains throughout the day, closing above $1395/oz.
Many, many years ago, long before central bankers became rock stars, and during an era of true free market capitalism, to even imagine a Fed funds rate of 2.5% was to paint a backdrop of high unemployment, negative growth verging on depression, and sagging asset...
June 20, 2019
Super Mario delivered a surprisingly dovish speech. But he was shortly outshined by Super Jerome. Both key central banks have sent new signals to the markets for interpretation. Let’s read the tea leaves and make sense of the initial reaction in the gold market.
Gold closed at $1348 today according to Stockcharts but is now much higher at $1365 as I write this update. My two longer-term weekly charts on GLD show the potential for a massive upside breakout where price could really run hard & fast.
In March 1980, the University of Washington installed a seismograph system designed to monitor earthquake activity in the Cascades, with a focus on increased seismic activity around Mount St. Helens.
It’s not a chart of nominal HUI with upside technical targets. We’ll do that in NFTRH this weekend, along with the usual individual miners. Rather, it’s a companion to other charts we’ve been reviewing over the last several months showing the under valuation of the...
After five long years, the gold price has finally broken through a key resistance level and is now heading towards $1,400. When the Fed announced possible rate cuts starting in July, after the market closed, the gold price shot up and continued higher during Asian...
Gold prices surged nearly 3% to a high of $1,385/oz, their highest in more than five years today after the U.S. Federal Reserve adopted a more dovish tone. The Fed signaled possible interest rate cuts this year which sent risk assets higher, U.S. Treasury yields and...
June 19, 2019
Gold and mining stocks just closed at a new yearly high. Silver is not even close to reaching such levels, and gold is already back below where it was trading 24 hours ago. Can these breakouts be trusted? Do they have a lasting power? To answer that, we better...
GBI saves money financing Auvere™ 24k jewelry, with a Monetary Metals lease. Scottsdale, Ariz, June 17, 2019—Monetary Metals announces that it has leased gold to Gold Bullion International, to support the rapid growth of GBI’s fine 24k gold jewelry business, Auvere...
I’m not the only analyst who has concluded that lower rates likely will not re-stimulate housing market activity. As I’ve argued in my Short Sellers Journal, the “pool” of potential homebuyers who can qualify for a mortgage has greatly diminished. In fact, mortgage...
As our research team continues to pour over the charts and look for any signs of direction regarding tomorrow’s Fed news, we put together a couple the charts that may highlight some expectations and in at what the markets may do the rest of the week.
The amount of discussion I am seeing on television, as well as in print, regarding what the Fed is going to do just amazes me. Are people this oblivious to the realities around them?
Gold prices have risen in all currencies today and especially in British pounds with gold having risen 1.5% to £1,078/oz. Concerns regarding the weak UK economy and Brexit fears continue to weigh on sterling.
