GLD Update…Breakdown?

Just a quick update on a few of the GLD charts we’ve been following closely. Below is the daily line chat which shows the breakout from the blue triangle that formed as the backtest to the larger 5 point bearish falling wedge reversal pattern. The bulls tried as hard as they could, but they couldn’t take out the bottom rail of the falling wedge reversal pattern. Friday’s decline was on heavy volume.

Gold: Will Goyal Make It Royal?

The dollar and the US stock market may be starting their next major legs down today. This is the ominous US dollar versus Japanese yen chart. Central banks around the world are ramping up their tightening. Back in 2013-2014 when I predicted quantitative tightening and relentless rate hikes were imminent, almost nobody believed me.

Chairman For People And Arrogant Eurocrat

Two of the most powerful men in the world. Trump? Putin? Xi? Nah. Chairman Jerome Powell and President Mario Draghi. Let’s analyze their recent press conferences!

Lift-Off Not (Yet) - Precious Metals Supply And Demand

Last week we said something that turned out to be prescient: This is not an environment for a Lift Off Event. An unfortunate technical mishap interrupted the latest moon-flight of the gold rocket. Fear not true believers, a few positive tracks were left behind. [PT]

Own A “Bit Of Gold” As We Are Moving Ever Closer To A Trump Trade War

The Chinese stock market took a hit today. The Shanghai Composite Index ended the session down 3.8% to close at a two-year low, notes Bloomberg. What’s wrong? Investors are starting to worry that Donald Trump is deadly serious about his enthusiasm for a trade war, that’s what’s wrong.

Take The Long-Term View In A Late-Cycle Market

The U.S. inflation story made further inroads this month, with year-over-year price growth for consumers and producers alike hitting multiyear highs. U.S. consumer prices expanded at their strongest pace in more than six years, climbing to an annual change of 2.8 percent in May. Prices for final demand goods, meanwhile, grew 3.1 percent, their strongest annual surge since December 2011.

Confirmed Interest Rate Hike Inspiring Bullishness In Gold Traders

The best performing metal this week was silver, down just 1.37 percent. Gold traders and analysts were bullish on the yellow metal due to speculation that the now confirmed interest rate hike by the Federal Reserve could ease the dollar’s rally, according to Bloomberg.  It is of interest to note that over the last three weeks gold stocks, as measured by the NYSE Arca Gold Miners Index, have outperformed bullion by 121 basis points.

Gold Price Forecast: Will The Golden Wedge Resolve Soon?

The pressure on the current monetary establishment has been building steadily. Just because gold and silver has not made a major move up, does not mean that the terminal illness of the international monetary system has now gone away. On the contrary, its imminent demise is now more certain, given the various financial confirmations over the last couple of years (see my other writings).

Gold Price And Gold Miners Analysis

Each Friday after the markets close, I usually write an end-of-week note covering the COT report which provides a forum for commentary on the outlook for the following week for the metals and the miners and allows me to sound off on events from the past week that are “of note” and which will affect investment decisions in the immediate future.

Gold And Gold Stocks Fail At 200-Day Moving Averages

Fed week is exciting for some. Gold bulls and bugs alike hope the Fed will do something or say something that will trigger a huge move in precious metals. It doesn’t work like that. The Fed follows the market, which for the Fed Funds rate (FFR) is the 2-year yield. The 2-year yield has been screaming higher over the past 12 months and it implies at least another two rate hikes in the future.

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The Incas thought gold represented the glory of their sun god and referred to the precious metal as “Tears of the Sun.”