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.

 

August 24, 2021

It’s been a long time since a full Gold Market update was posted on the site because frankly it has been too boring a market, but what happened last week looks highly significant with the action in gold and silver suggesting not just a reversal from the recent...
The Delta variant of the coronavirus is spreading all around the world. Although it won’t affect the world economy as much as the first wave of the pandemic, it will add to the already existing problems. Namely, the rising number of new cases will prolong the supply...
I could write a nice lengthy introduction today, but it seems that there’s only one question on your mind right now, so I’ll quickly address it instead. Has the outlook for gold, silver, and mining stocks become bullish because of yesterday’s rally? My answer is: no,...
Stimulus addicted markets ran into headwinds last week. Fed watchers found some hints about interest-rate tightening in the just-released FOMC’s July meeting minutes. That was all it took to rattle Wall Street. Stocks have since recovered some of the initial losses,...
There is a potential new pattern forming in the PM complex which I first notice on the short term daily chart for GLD. Below is the daily chart GLD we looked at late last week which was showing the multiple double tops and double bottoms.
One way to look at the price of gold, is that it dropped from its high around $1,900 in early June. Another way is to zoom out, and look at the big picture. Here is a 10-year chart of gold and silver prices.

August 23, 2021

Covid has upended economic theory. The steepest economic collapse since the Great Depression has given way to the longest stock market rally and the biggest inflation shock since the seventies.
The best performing precious metal for the week was gold, up just 0.08%. Gold headed for a weekly gain as investors turned to the haven asset amid concerns over the delta coronavirus variant and weaker economic data.
Friday the 13th of August 1971 was a very important date in U.S. history. It was the date that set the table for the beginning of the end of the USD's world reserve currency status. And, greatly expedited the road to perdition for the dollar's purchasing power.
Oil, gas, and other energy news is everywhere, but “how do I get in on the action? What type of trading instruments do I use?” Read on and find out.
With its negative correlation to the metals, the USDX rally weighed heavily on gold, silver and stocks. Stop and think: what would be if it continued?
The last two weeks of the American summer vacation will be full of twist and turns. Twist in gold, silver, copper and crude oil have already been faced in the form of August crashes. Except for natural gas, every metal has sold off in August. The hyper optimism in...
[Editor’s note: The following was sent out to clients in mid-July by my friend Doug Behnfield, a financial advisor and senior vice president at Morgan Stanley Wealth Management in Boulder, CO.  Long-time followers of Rick’s Picks will be familiar with Doug’s work,...
Suspicion that there is surreptitious official support for Wall Street has gained much ground in the alternative media since the blatant Fed support for the stock exchange and the economy in 2009. Two more recent bear spikes on Wall Street tested official resolve to...
There is some evidence that we are still in the bull market which started in 2009 and which could continue into 2021 until major cycles take over, and it ends.  A move up to ~4500 is possible before the current bull market makes a final top and SPX corrects into its...

August 22, 2021

Last week's trading saw gold forming its high in Tuesday's session, here doing so with the tag of the 1797.60 figure. From there, a sideways-to-down consolidation was seen into a Thursday low of 1774.60 - before bouncing slightly off the same into Friday, managing to...
Never was anything of such high intrinsic value so unloved: Gold. Never was anything of such low earnings output so adored: the S&P 500. And as you regular readers well know, the current market levels of Gold (1783) and the S&P (4442) ought justifiably be...
All is well with the stock market, as per the Dow Jones’ BEV chart below.  Exactly like every other daily closing since November 4th of last year, where the Dow Jones has closed either at a new all-time high (BEV Zero) or in scoring position of making one (within 5% of...

August 21, 2021

In our last editorial, we noted that if the gold stocks (HUI & GDXJ), which were in a precarious position, lost their lines of support, it could lead to another 15% to 20% downside.
Don't want to listen? Read the podcast below! Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason. A rising U.S. Dollar Index is putting downward pressure on hard assets markets this week.
Our proprietary cycle indicator is DOWN. Gold sector is on long term SELL signal. Long term – on major SELL signal. Short term – on sell signals. Gold sector cycle is down.

August 20, 2021

Gold stocks’ best-performing subset has been pummeled lower recently, leaving a wake of devastated sentiment.  Traders have wholesale abandoned the mid-tier and junior gold miners which are this sector’s sweet spot for upside potential during gold uplegs.  These gold...
The inflation monster has reared its ugly head. The CPI annual rate surged to 5.4% in June, accelerating from already mind-blowing 5% in May. It was the hottest pace since the Great Recession. However, Powell and his colleagues from the FOMC still claim that inflation...
Ladies and gentlemen, we have a breakdown! Gold stocks underperformed the yellow metal so much that they reached the lowest levels seen this year…
The rise and fall of gold stocks is a story of hurt and disappointment. That is because most of the time gold stocks are in decline.
The intermediate cycle in gold (chart below) has formed turning points roughly every 128-calendar days (4.2-months). That cycle just turned again, triggering an intermediate low on August 9, 2021. Gold must now stay above that low to prevent a breakdown to the $1500 to...
Today marks 50 years since President Richard Nixon closed the “gold window,” ending the ability of foreign governments to exchange United States dollars for gold. Nixon’s action severed the last link between the dollar and gold, giving the U.S. a fiat currency.

August 19, 2021

In our post on August 11 titled End of an ERA: The Bretton Woods System and Gold Standard Exchange, we discussed the significance of then-President Nixon’s action of closing the gold window thereby ending the Bretton Woods Monetary system.
The latest FOMC minutes show that the Fed will likely taper quantitative easing this year. It’s largely priced in, but downside risks to gold remain.
The gold cartel is going to attack gold as much as they can to keep commodity markets in check. The miners are playing out as I warned this would. The cartel would undercut the lows of the mining stocks, attacking the miners

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