Goldman Sachs has been predicting the demise of gold for the past few years. Back in July of 2015, Jeff Currie (Global Head of Commodities Research at the investment firm) went on record predicting the price of the yellow metal would fall below $1,000 per ounce by...
Gold Editorials & Commentary
March 28, 2016
In 1980 Ronald Reagan spoke about the Misery Index. An economist had added the inflation rate to the unemployment rate, called it the Misery Index…and used it to indicate the social costs and economic difficulty for the middle-class.
Today I would like to show you some more charts on some if the different stock market indices we looked at in the last Weekend Report. Last weekend we looked at a lot of the bull market uptrend channels that are still in place since the 2009 crash low.
“After Friday’s action, SPX looks poised for a minor pull-back. That may be all we get unless we can retrace below 2020, in which case a more important top may be in place.”
Germany started WWII on a high note, bypassing the defences of the Maginot line and sweeping across France in their stunning Blitzkrieg offensive. They seemed to be invincible, but only four years later after disastrous campaigns in Africa and in Russia, they were...
March 27, 2016
Despite gold's recent selloff, I feel increasingly comfortable with our short-term (one-year) and our long-term (five-to-seven year) forecast of the future price of gold. Indeed, by this time next year, gold's price could be challenging or even surpassing the yellow...
Since 2011, the United States exported the majority of its gold to only four countries. In the past five years, the U.S. exported a total of 1,961 metric tons (mt) of gold to these four countries, which accounted for 68% of the total 2,876 mt.
A bit of a rest week for markets as they are near resistance levels, but not falling…which so far says we are setting up for a breakout higher. However, that can change. Friday saw the S&P500 weak early in the day…but the market ended up closing on the highs of...
Boring is how I’d describe the stock market last week. The last day of extreme market volatility (Dow Jones 2% day) occurred on March 1st and we haven’t seen a day of extreme market breadth (NYSE 70% A-D Day) since January 29th. However a pause of a few months is...
A purposeful play on words, that title: Gold's 1240-1280 resistance zone not being futile means that 'tis working, repelling price from successfully clearing above it. In other words, once resistance is futile, Gold will be up into the 1300s -- or at least dealing...
March 26, 2016
Well, it looks like I sort of called it last week. Now, where are we this week…and more importantly, where are we headed? As this week’s chart shows, it’s basically been a bummer last week. One day up but the rest down. This has caused the technical picture to...
Several days ago, IM Vronsky wrote that the big banks are in deep trouble. Since the financial reporting of these companies leave out much of the data necessary to evaluate these companies, he pointed to the price history (and technicals) of several bank stocks.
Gold and gold stocks finally showed a bit of weakness during the holiday shortened week. Gold had its biggest weekly loss in months, losing 3% to $1217/oz, while the miners (GDX, GDXJ) declined about 5%. Silver lost 4%. If weakness in Gold and gold stocks continues...
Ever since beginning the ‘Macrosom‘ theme in July (and updating it here), NFTRH has been managing macro changes that would positively affect the gold sector, and quite possibly have a negative effect on broad stock markets.
March 25, 2016
Technical Analysis of The Markets Via Videos.
The red-hot gold stocks have spent most of March in consolidation mode, grinding sideways near their 2016 highs. Interestingly this month’s rally pause is par for the course seasonally in gold-stock bull markets. Like gold itself, this sector tends to slump to a...
Gold sector is on a new major buy signal. Cycle is up but at levels of previous tops. COT data remains in bear market values and is now at levels of previous tops.Silver is on a long-term sell signal and investors should be in cash or short. Short-term is on sell...
I bought some Mexican gold on Monday. Old gold. Pre-World War II stuff. Two-peso coins slightly smaller than a US dime that Mexicans used to carry around in their pockets. Only these are not all banged up and gnarly like normal pocket change. They’re all in...
“Investors could be forgiven for heading for the hills given the tumultuous start to 2016,” so writes Andrew Oxlade in The Telegraph today who advises investors to diversify into gold as an “insurance policy”:
March 24, 2016
All avid students well know a nation’s economy depends a great deal upon the strength of its financial system…to wit: the stability of its banks. To be sure most major banks are “crowing” stability, strength and all that exemplifies security. But is it true?! What...
India has had a long-standing love affair with gold. At Indian weddings, some of the brides get so much gold jewellery that it weighs them down. There are upwards of 15 million weddings every year in India.
Today felt like a short covering rally during the bear market years in the PM complex only in reverse. Days like today can make one think that the rally over the last two months is all she wrote for the new bull market. Did the baby bull die at birth? Maybe but I’...
March 23, 2016
During this quarter we have seen a large run up in the price of gold from $1061 on January 1st to a high of $1284 on March 11th. This large and swift increase in price has created a lot of bullish sentiment among investors who once again have declared the bear...
The Federal Reserve's years-long campaign to sheepishly back away from its own policy forecasts continued in earnest last week when it officially reduced the four expected 2016 quarter point hikes, suggested back in December, to just two.
Compare the Great Depression to the Great Recession, and you’ll see a similar pattern in how the Dow Jones Industrial Average graphs out. That pattern appears to be repeating now.
Harry Dent, best-selling author and economist, has warned that the stock bubble in the US today is the biggest in history…and that the “greatest crash of your life is just ahead…”
As gold was in the heart of a parabolic rise during the summer of 2011, the market was quite certain that we would imminently exceed the $2,000 mark. However, we expected it to top just over $1,900…and did not believe we would exceed $2,000, as the market was...
Politics in the United States is dramatic and is watched like a soap opera. But which candidate if elected will help the stock market…and specifically the price of gold? Let’s breakdown the views of the frontrunners.
March 22, 2016
A batch of mixed economic data was released this week and last that underlines continued strength among US businesses and manufacturers. But consumer confidence still seems to be held back by the global slowdown, central bank policy concerns and other factors. This...
Our 1241.30 low has held in the overnight session, and for the time being we are assuming that is the end of all of wave !ii! of ^v^. In the overnight session gold was higher and reached 1260.80. We still cannot rule the possibility that wave !ii! is going to become...
