Gold Editorials & Commentary

Here is a joint statement from Lagarde and Powell at a secret G7 meeting with all Leaders and Finance Chiefs of the seven nations attending as well as the IMF and BIS:

Gold stocks have led the market for a year, and with economic deceleration and Fed policy response that leadership looks to continue [edit: today’s ‘in the bag’ bounce-back Jobs report does little to alter the economic deceleration theme]

Gold, silver, and their miners’ stocks suffer their weakest seasonals of the year in early summers.  With traders’ attention normally diverted to vacations and summer fun, interest in and demand for precious metals usually wane.  Without outsized investment demand,...

In Wednesday’s analysis, we wrote that we didn’t trust gold’s breakout above the November 2011 high and that we thought that it will be invalidated shortly. We didn’t have to wait for long. Gold invalidated this breakout several hours after we posted the above.

What a crazy six months! Let’s look at the chart below. As you can see, over the first half of the year, gold gained more than 16 percent, rising from $1,515 at the end of December 2019 to $1,762 at the end of June 2020.

Initial jobless claims are declining painfully slowly. The disconnect between the choppy recovery and financial markets creates upward risk for gold.

The gold futures contract lost 1.14% on Wednesday after reaching new long-term high of $1,807.70. The market has retraced its Tuesday’s advance following intraday reversal and a breakdown below $1,800 mark. The recent economic data releases didn’t bring any new...

As third quarter trading kicks off following a tumultuous first half of the year, investors are hoping for an auspicious July.

Only a couple of months ago I set out to make a short video explaining how to execute a long term Gold Price Forecast using ongoing fiat US dollar monetary base data ( M0, M1. M2, M3 ).

Gold is at a critical juncture. Prices could top or breakout within the next 48-hours. Our cycle work favors a top. This week’s employment data could trigger a breakout in gold above $1800 or force an intermediate top. Expect increased volatility over the next 2-...

Gold just closed the month and quarter and its performance on the final day of both was very encouraging for the bulls. What’s going on and what changed?

Gold is the top performing asset in the world in the first half of 2020, outperforming all stock markets including the S&P 500 and the Nasdaq and outperforming “safe haven” U.S. government bonds (see table above).

Some gold bulls have bought in heavily to the argument that gold price suppression has been an ongoing activity for years, even decades. Supposedly, trading in the gold market is manipulated in ways that depress the market price for gold.

Gold has broken out from a two-month-long consolidation (from $1680 to $1770), but the other precious metals markets have not confirmed gold's strength.

Investors ignore cycles… at their peril.  When I calmly suggested that a key virus cycle year of 2020 would see a “carpet bombing” of markets, most investors were not listening to the cyclical message of the markets.

Very little happened on the precious metals market yesterday and the related markets, but it seems that we might see something more interesting today.

The general market reliance on the Fed is not only what is driving many investor’s decisions of late, but it will likely reach its peak in the coming years. But, one is going to have be very careful before they buy into this fallacy too deeply.

We all fear the second wave of infections. But the U.S. hasn’t even controlled the first one! Bad news for Americans, but good news for gold.

The gold futures contract gained 0.05% on Monday, as it extended its short-term consolidation along last Wednesday’s new yearly high of $1,796.10. The market continued its long-term uptrend last week. The recent economic data releases didn’t bring any new surprises...

We start this week's commentary with some rather depressing news from Reuters: The ratio of downgrades to upgrades in the credit ratings of leveraged loans has spiked to a record level, five times above that hit during the last global financial crisis, reflecting...

We will start this update by looking at gold’s price measured against various important currencies. These long-term charts quickly make clear that gold is in a major bullmarket, which is another way of saying that these currencies are losing purchasing power.

The gold futures contract gained 0.55% on Friday, as it continued to trade along Wednesday’s new yearly high of $1,796.10. The market has extended its long-term uptrend last week. The recent economic data releases didn’t bring any new surprises for the financial...

As I sit here on a Thursday evening, contemplating the logic behind my most recent additions to a highly-tentative short position on the SPY:US (the ETF tracking the S&P 500), I am doing everything in my power to not take my quote machine and project it into the...

The Federal Reserve has printed trillions of dollars without generating runaway price inflation through the use of a neat trick.

The second wave of Covid-19 is here and while it makes gold’s potential even better in the long run, it’s likely to mean a sharp decline beforehand.

Gold closed last week at US$1,770 almost US$20 higher than at the closing price on June 19th. The bulls not only pushed prices to a new eight-year high at US$1,780 but have once again responded with great strength to a bearish attack on Friday. Every dip, no matter...

One of the most telling patterns in Gold over the past 6+ months has been the “washout low” price rotation pattern after establishing a momentum price base.  It seems as though every time Gold completes one of the moderate-low price rotations, as we call it a “...

Last week's trading saw gold once again forming the bullish pattern of an early-week low, here hitting a bottom of 1753.50, made in Monday's session. From there, strength was seen into Wednesday, with the metal running all the way up to a peak of 1796.10 - before...

Fierce indeed and nearly with success, which we think ought swiftly be in the balance as Gold this past week traded to as high as 1796, leaving just four final points to finally taking The Northern Front (1750-1800), price settling out the week yesterday (Friday) at...

This week the Dow Jones broke below its BEV -15% line, something not seen since May 27th when the Dow Jones broke above this critical level. Looking at the advance off the Dow Jones’ BEV -37% level since March 23rd, a correction in this advance may be warranted, so...