Gold Editorials & Commentary

Just a quick update on GLD which has broken down from a 2 1/2 year triangle consolidation pattern. If we get a backtest to the bottom rail around the 119 area I will take a position in DGLD which is a 3 X short gold ETF.

Under Trump, it can be argued that the US economy (which is separate from the Wall Street casino) is experiencing a degree of normalization. Top economists give him credit for corporate tax cuts and deregulation.  At the same time, the US central bank is also...

Even though the gold price increased in 2018, the top gold miners production declined while costs continue to escalate. Output at three of the top gold miners in the world fell in the first half of 2018 compared to the same period last year.  With rising costs due...

For those that follow me regularly, you will know that I have been tracking a set-up for the SPDR Gold Trust ETF (NYSEARCA:GLD), which I analyze as a proxy for the gold market. I also believe that gold can outperform the general equity market once we confirm a long-...

The yield on Italy’s 10-year bond is up by about 100 basis points from its 2018 low. Meanwhile, its government continues to borrow money and roll over its existing debt. But now it has to do so at ever-higher interest rates, which means it has to pay more interest,...

The best performing metal this week was palladium, up 3.41 percent on tensions residing over tariffs on automobiles. Gold traders turned bullish this week, as prices rose from their lowest in a year, after being the most bearish since December in last week’s survey...

And so it happened. After a breakdown that might have appeared accidental as it was triggered mostly by one company’s decline, we saw a weekly close below the key 61.8% Fibonacci retracement level in the HUI Index. There was no analogous breakdown to new lows in...

Let’s return to our ongoing series on the destruction of capital, and how to identify the signs. Steve Saville posted a thoughtful article this week entitled The “Productivity of Debt” Myth. His article provides a good opportunity to add some additional thoughts.

This past week has been very interesting in the US markets for a couple of reasons.  It is time we took a hard look at what to expect going forward and how this news will likely drive future market moves.

U.S. Bonds have completed a large Bearish Head & Shoulders Top pattern. The downside price target is 115ish, suggesting a ton of selling is about to hit the U.S. Bond market. Long-term interest rates could rise.

In recent newsletters I have pointed to negative divergence building up in the various market indices at the daily time frame.  This is always suggestive of an approaching correction and one should be on guard for it.  On Friday, traders took advantage of some good...

Gold has been dropping like a stone over the last several months, and getting no relief as the summer doldrums for precious metals meander along. Historically gold’s worst month is March, with January and September the next best months to look for a rally. September...

A week ago from the high mountains of Squaw Valley we nixed our forecast for gold to reach 1434 this year. 'Tis clearly evident not just by all the substantive overhead resistors -- notably The Box (1240-1280), The Whiny 1290s, and The 1360s Double-Top -- but as...

The Dow Jones Index has finally broken above its BEV -5% line in the Bear’s Eye View chart below, closing the week only 4.38% from making a new BEV Zero, (new all-time high).  The bulls deserve a big Bravo Zulu for forcing me to change the question I ask every week...

After recently teasing another bottom, gold continues to be heavily weighed down by, as it were, two lead weights: the U.S. dollar and the Treasury bond yield. In today’s commentary, we’ll examine these prominent obstacles standing in the path of a gold relief rally...

Long-term – on major buy signal. Short-term – on sell signals. Gold sector cycle is up. COT data is now at levels of previous bottoms. From a contrarian point of view, the current extreme bearish sentiment is an excellent buying opportunity for long-term investors. ...

Back in mid-May, I wrote my first article for Sprott Money, entitled “Gold Preparing to Launch”, where I stated the following: “In summary, based on positioning, sentiment, technicals, inter-market analysis, Elliott Wave Theory and similar readings prior to previous...

Not much has changed since the last 3 Amigos macro update. Amigo #2 (long-term yields) has long-since reached the Continuum’s ™ limiter (the 100 month exponential moving average on the 30 year Treasury yield) and Amigos #1 (SPX/Gold) and #3 (the 10-2 yield curve)...

Some emerging markets, Argentina and Turkey in particular, deal with the economic crises, while their currencies are continuing their collapse. The Fed Chair, Jerome Powell, has recently said that “the role of U.S. monetary policy is often exaggerated”. On the other...

Gold continues to drift near summer-doldrums lows, feeding and intensifying bearish sentiment. But an exceedingly-bullish event just happened which will ignite a major new upleg. Speculators’ gold-futures short positions have soared near all-time record highs! That...

The case for China raising its gold holdings seems compelling. A potential trade war with the U.S. that threatens growth, simmering tensions on the Korean peninsula and this year’s slump in gold prices are reasons to buy. But People’s Bank of China data show the...

On July 18th, a South Korean company claimed to have found the wreck of a Russian warship holding $130 billion in gold. Shinil Marine said it had discovered the wreck of the Dmitrii Donskoi, a Russian armored cruiser sunk in 1905 after fighting Japanese warships off...

Although precious metals have not rebounded too strongly yet, the long awaited summer rally could be underway (at least in Gold). Gold is oversold and its sentiment is overly bearish. But it is holding important support in the low $1200s.

Silver And gold Are Partial Solutions Since Politicians Will Be No Help. I am a “Snowflake” and proud. You may sneer at us but I doubt you understand our perspective. I’ll educate you with the Snowflake Manifesto. First, as an American citizen, I have certain...

In this article I point to the pressures on the Fed to moderate monetary policy, but that will only affect the timing of the next cyclical credit crisis. That is going to happen anyway, triggered by the Fed or even a foreign central bank. In the very short term, a...

What comes to your mind when you hear about Auburn, Alabama? I guess nothing. But this is a mistake. There is a real treasure hidden there. Am I talking about gold?

While the U.S. reached a new record of 11 million barrels of oil production per day last week, the top five shale oil fields also suffered the highest monthly decline rate ever.  This is bad news for the U.S. shale industry as it must produce more and more oil each...

In their outlook for the second half of 2018, the World Gold Council have identified three key macro trends that will influence gold’s behaviour and should be positive:

At first sight, yesterday’s session was quite boring – gold ended the session practically unchanged while silver and mining stocks were only a little higher. The USD Index was practically unchanged. But just because nothing happened in the market in terms of the...

Two weeks ago, we demonstrated that the yuan-dollar exchange rate is now the primary driver of global gold prices. Today, we attempt to decipher some of the important implications of this phenomenon.