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Gold Editorials & Commentary

Gold-Eagle gold and precious metal news, market analysis and editorials from world renowned gold analysts and market experts.  Stay informed with the latest news and analyses on gold prices and perspectives on the economy to guide your investing decisions.

 

June 19, 2024

Bitcoin was heralded as the new gold. But the “old” gold ultimately managed to move above its 2021 highs, while the “new” gold didn’t. Gold didn’t disappear; they both coexist, and they both have a strong anti-dollar vibe.

Shedding its long-standing price sensitivity to the price of gold, Thailand is currently a gold buyer driving the price up, just like China. Present changes in the global gold market, in which pricing power is shifting East, could be a precursor to a transformation...

Since mid-2021, we lived through the worst price inflation since the 1970s. CPI peaked in June 2022 at 9.1 percent. During this inflationary period, a lot of people sold gold as evidenced by the rangebound price through most of 2023. Was selling a good move?

The Gold price against the US Monetary Base and the percentage backing of our current Gold reserves (at the current market price) shows how far cheap Gold is compared to levels of the last bull market.

Over the past few months reports have emerged that the BRICS are now more actively moving along plans for a gold-backed settlement currency called 'The Unit.'

June 18, 2024

It will be a quick update today, as the situation is almost identical to what it was in the previous days. In other words, the situation is developing in line with what I wrote previously.

The significant synergy between the Dow (US stk mkt) and gold bullion continues.

On Whit Monday, May 20th, the price of gold reached a new all-time high of USD 2,450. However, this milestone was immediately followed by a sharp pullback to USD 2,287, from which the gold market has so far been unable to recover sustainably.

The best performing precious metal for the past week was gold, up 1.00%. The World Gold Council (WGC) published its gold ETF flow data for May this week. Gold ETF holdings saw their first monthly inflow in 12 months, totaling $529 million or 8.2 tons.

The steepening in the yield curve from inversion to above 0 is the best indicator of an imminent recession. The decline in the 2-year yield relative to the Fed Funds rate usually precedes the start of rate cuts, which is bearish for the stock market and economy in...

The Biden administration ran the biggest monthly budget deficit of the year in May as it continues to spend money hand over fist.

June 17, 2024

Gold closed up 1% this week while Silver gained slightly and miners were down. Gold & Silver remain in correction mode.

As gold and silver have drifted down slightly over the last 3 weeks, gold open interest has plummeted, falling by over 100,000 contracts, but so far only making about a $100 dent in the gold price, just a 4% move.

June 16, 2024

Last week’s rabid short-squeeze punctured bull-market targets I’ve been drum-rolling for months in Microsoft, Apple and QQQ. Moreover, the bullish look of the S&P 500 chart shown above is so clear and compelling that even the most stubborn permabears will need...

As anticipated, the Federal Open Market Committee (FOMC) voted to hold its federal funds rate target in the 5.25 to 5.5 percent range on Tuesday. FOMC members also revised their forward guidance for the future path of interest rates.

What’s to say about the Dow Jones at this week’s close?  It is still in scoring position in its Bear’s Eye View chart below.  For that reason, it’s best assuming the advance that began last November, when the Dow Jones first closed in scoring position (inside of...

Elliot Wave Analysis of key markets.

As herein anticipated a week ago:  Gold’s weekly MACD (moving average convergence divergence) has now confirmed crossing to negative, despite price’s +1.6% up week in settling yesterday (Friday) at 2348.

June 15, 2024

GLD is on short term sell signal. GDX is on short term sell signal. XGD.to is on short term sell signal. GDXJ is on short term sell signal.

As the Fed keeps hopes alive for at least one rate cut this year, metals investors are weighing the inflation outlook. Gold and silver markets have recently been giving back some of their impressive gains this year. So far, it looks like a normal correction after a...

According to the World Gold Council head of Asia-Pacific and global head of central banks Shaokai Fan, the “center of gravity” of the gold market has shifted to the East. Gold consumption by emerging market economies is rapidly rising and the majority are...

June 14, 2024

Gold has generally drifted sideways for a couple months now, consolidating high.  That lack of progress has significantly eroded sentiment, bleeding off greed and stoking bearishness.  But this healthy process is exactly what gold needed to rebalance sentiment. ...

How can we know for sure the stock market is in a bubble? NVIDIA (NVDA) has been up 155% year to date; its market cap is over $3 trillion. The company has gained the equivalent of Amazon in just six months. And it is responsible for just over half of the S&P 500...

Metals and Miners are in the timing window for cycle lows and prices may be very close to bottoming. Gold needs to close above Wednesday’s $2358 high to reverse the post-Fed breakdown and support an immediate bottom.

It's been a wild couple of weeks, with the jobs report, the CPI inflation report, and the Fed announcement. Gold and silver came through it with a few bumps and bruises, but the charts look very good.

Prices held steady in May, the Bureau of Labor Statistics reported on June 12. The Consumer Price Index grew at a continuously compounding annual rate of just 0.1 percent last month. It has grown 3.2 percent over the last year. Core CPI, which excludes volatile food...

The Federal Reserve’s Federal Open Market Committee (FOMC) yesterday left the target policy interest rate (the federal funds rate) unchanged at 5.5 percent. The target rate has now been flat at 5.5 percent since July of 2023—as the Fed waits and hopes that...

The Federal Reserve released its latest policy statement on Wednesday, followed by another press conference from Jerome Powell, to cap off what was all in all a pretty active day for gold and silver.

June 13, 2024

Strike up the band and wave the victory banners! Inflation is dead! Or is it? The May Consumer Price Index (CPI) report was cause for optimism. But price inflation is like that stubborn weed in the driveway. Just when you think you’ve killed it for good, it pokes...

When most people think of juniors, they think about exploration companies and drill plays. The appeal of these stocks is their huge upside potential. One drill hole can change everything and make you rich.

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