Gold Editorials & Commentary

From this vantage point, it looks as though the precious metals complex will trade opposite the stock market throughout the month of June. The miners look as though they are bottoming, while the stock market looks as though it is topping. The jobs report on June...

Gold weakened during May by about $100…from a high point of $1300 to a low of $1200. For technical analysts this is entirely within the normal correction zone of a third to two-thirds of the previous rise, which would be 84 to 167 dollars.

Gold bottomed in December 2015 at a major cycle low. Or did it? Financial Sense published in May an article by Tom McClellan, an excellent analyst: “Major Cycle Low Upcoming in Gold.” The low may be coming as this article suggests, or perhaps it has already...

Do you think the Gold Bull Market has returned? Obviously I do…and have been trading as if the Gold Bull Market has returned. You need to be aware of this opportunity and appreciate that another big move in this Gold Bull Market is again developing. If this next...

In early-November of last year we predicted that a tradable gold rally would begin near the mid-December FOMC Meeting as long as the Fed did what almost everyone was expecting and implemented its first rate hike in more than 8 years. Our reasoning was explained as...

In a world full of bubbles that will all burst, it is of course impossible to forecast which will be the first ones to cause havoc for the world economy. One of the biggest bubbles that would clearly bring down the financial system is the bond market. Here we have a...

Well, your time has come! Gold is in the process of testing the February breakout at a very important moving average. Whenever the market tests a breakout, it affords those who missed the breakout an opportunity to get onboard, and it enables those who helped to...

With one session left in the month, the US Dollar (USD) bounced off the lower trading range of this over a year-long consolidation with an outside reversal monthly candlestick, which suggests that the correction is complete and more strength ahead in coming months....

First published Sun May 29 for members of ElliottWaveTrader.net: After reading the title, you may expect me to say something like “let my metals go.” And, you are likely quite right. So rather than afflicting you with the plague of darkness, allow me to...

The corporate bond market is a $6 trillion time bomb waiting to go off. It took the US half a century to grow its corporate bond market to $3 trillion. Thanks to the Fed implementing ZIRP and holding rates there for seven years, we’ve doubled the corporate bond...

The GLD chart below shows gold in a declining wedge. Cyclically, an 8 TD low is due in gold and a 4 TD low due in GDX on June 1st. A strong rally is indicated into June 2nd for both gold and GDX. The stock market (as measured by the S&P500) has either made its...

As you know, May Futures COMEX gold which traditionally is a non-event was anything but this year. Last year, a total of 2,500 ounces stood for delivery, this year the number was 221,000 ounces. The amount standing on April 30 was 5.6 tons which steadily grew...

Last week President Barack Obama was in Vietnam and Japan drumming up additional support for the Trans-Pacific Partnership (TPP). Meanwhile I was in the U.K., where Brexit drama is dominating headlines and airwaves. Only a month remains before voters decide whether...

Gold reached a low of 1201.80 in Monday's electronic trading session. In the overnight session gold reached a high of 1216.50. Gold has now traded slightly below our 38.2% retracement level and it would be helpful to our cause if it rallied higher from here. In...

When titans clash, reverberations are felt around the world. The US central bank has begun a titanic clash with the US government. Consequently, all markets will be impacted significantly as the battle unfolds.

Indubitably, current US stock market topping pattern is fueled by unbridled greed and unrealistic Stock Buy-Back schemes fueled by the Fed’s Negative Interest Rate Policies (i.e. Quantitative Easing). However, as it did in 2001-2003 and again in 2007-2008,...

The voice of complacency says no pullback in gold. Anyone who took profits will not get a chance to reenter. Here is the chart. Clearly this analyst was expecting gold to soon take out the 2014 high. It’s forming a Bull Flag and Cup&Handle patterns in...

BREXIT gold diversification is taking place due to concerns about the BREXIT vote on June 23rd as “smart money” institutions, banks and investors diversify into non-negative yielding gold.

If we are going to highlight improving fundamentals, which we did as gold out performed commodities and stock markets. Then we also have to highlight and respect eroding fundamentals; no ifs, ands or buts.

Since early February I have visually described my position and mental framework in the precious metals market as being “Cool as a Cucumber”. This has served me well as it has allowed me to stay invested as the move powered higher and many bailed to the sidelines...

The price of gold staged a spectacular rally in the first quarter of 2016. It gained in value by 17% (in terms of US dollars). This was its best performance in almost three decades, while significantly outperforming other major stocks and bonds. We have now entered...

I have now been involved in the analyst side of this business for almost 5 years. During that time, I have had the opportunity to interact with the almost three thousand members in my trading room at https://www.elliottwavetrader.net/ , who range from novices to...

The dollar moved up…though most people would say gold fell about $40 and silver 32 cents. In the mainstream view, the value of the dollar is 1/N (N is the quantity). So how could the dollar go up? Certainly, the quantity keeps on increasing.

Having broken its long-term bear phase with a bang, gold continues to consolidate as we expected. Our forecast was for a drop from $1300 to sub $1200. We are nearly there…and whilst many were bullish at higher prices, our analysis pointed to a different outcome.

Gold price forecasts have been revised higher in recent weeks and Citi became the latest bank to revise higher their projections for gold, despite the recent weakness in the price.

There is (very) important support for the SPX between 2040 and 2043. It will have to be broken decisively in order for the index to resume its long-term downtrend. After finding support at the bottom of a major trading range, SPX is again approaching the top of the...

The idea that gold is being manipulated by the US Government, by central banks and other nefarious creatures has been around as long as I can remember. It was prevalent in the mid-1960s when I first got interested in the markets and it is still prevalent now, some...

My optimism last week that the gold and silver longs would mostly ride through the attack on the metal prices holding onto their positions, perhaps buying even more, was a little too rosy. What surprised me was that while we are used to the waterfall attacks in New...

The Dow Jones Index had a good week. Early on it was at risk of declining below its BEV -5% line in the Bear’s Eye View chart below. That didn’t happen; instead, at the end of the week the Dow closed above its BEV -2.5% line. For a week in the market this isn’t...

Gold speculator and large futures traders sharply decreased their gold bullish positions last week to the lowest level in seven weeks, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.