Sector expert Michael Ballanger reacts to today's Federal Open Market Committee meeting. To the surprise of the many and the chagrin of the few, the Fed opted to do nothing with policy today and left rates unchanged despite clarion calls for a cut. As I wrote about earlier, there was (and is) zero rationale for a rate cut, what with GDP humming along and the best employment numbers in fifty years...Read More
Super Mario delivered a surprisingly dovish speech. But he was shortly outshined by Super Jerome. Both key central banks have sent new signals to the markets for interpretation. Let’s read the tea leaves and make sense of the initial reaction in the gold market.Draghi Repeats ‘Whatever it Takes’ In a Mini VersionAs we covered one week ago in the Gold News Monitor, the ECB became...Read More
Gold has finally broken out to the upside. In Asia trading on Thursday, Gold exploded through the $1360 to $1370 resistance zone and was able to hold the gains throughout the day, closing above $1395/oz. As we pen this article, Gold has to chance to break $1400/oz by the weekend. The close of the month (and quarter) next week will provide an additional clue as to the sustainability of this strengt...Read More
This is the final article in this Gold analysis series that concludes in a detailed trend forecast for the Gold price into Late September 2019 :Current StateTrend Analysis, MACD, Trend ChannelsSupport / ResistanceSeasonal AnalysisUS Dollar / GoldGold Price Trend Forecast ConclusionGold Stocks This analysis was first been made available to Patrons who support my work: Gold Price Trend Forecast Summ...Read More
Surf City has several seats on the Bus. Do you?Summary: Gold closed at $1348 today according to Stockcharts but is now much higher at $1365 as I write this update. My two longer-term weekly charts on GLD show the potential for a massive upside breakout where price could really run hard & fast. My first chart is a 6 Year weekly showing a massive inverse Head & shoulde...Read More
In March 1980, the University of Washington installed a seismographsystem designed to monitor earthquake activity in the Cascades, with a focus onincreased seismic activity around Mount St. Helens. Starting just a few days later, a series of earthquakes, smalleruptions, and steam releases took place. Near the end of the month, the peakof the mountain started to open up.But this was only the beginn...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 274,63370,31056,655141,993365,848473,281492,813 Change from Prior Reporting Period 24,5194,434-3,1804,27426,10225,61327,356 Traders 20669685559290170 Small Speculators LongShortOpen Interest 52,35532,823525,636 3,3601,61728,973 non reportable positionsCha...Read More
- Richard (Rick) MillsThe US Federal Reserve, the country's central bank, did what many expected on Wednesday, and held interest rates steady, while signaling that a rate cut is on its way. Despite pressure from President Trump to lower interest rates, the Federal Open Market Committee (FOMC) concluded after a two-day meeting that it will stay pat for now, meaning no change to the 2.25% to 2....Read More
Gold finally surged to new bull-market highs this week! Several years after its last bull high, gold punched through vexing resistance after the Fed continued capitulating on ever normalizing. This huge milestone changes everything for gold and its miners' stocks, unleashing new-high psychology fueling self-feeding buying. With speculators not yet all-in and investors wildly underdeploye...Read More
Summary: Gold closed at $1348 today according to Stockcharts but is now much higher at $1365 as I write this update. My two longer-term weekly charts on GLD show the potential for a massive upside breakout where price could really run hard & fast. My first chart is a 6 Year weekly showing a massive inverse Head & shoulders pattern that is ready to bust out to the upside of the inverse neckl...Read More
By: Ira EpsteinDrone Thursday - 100% July Cut in Rates Priced in - Gold Market is responding to falling dollar, rates, FOMC, drones, safe haven buying roaring into the market.Gold roars higher:Read More
- Jordan Roy-Byrne CMT, MFTAGold has finally broken out to the upside.In Asia trading on Thursday, Gold exploded through the $1360 to $1370 resistance zone and was able to hold the gains throughout the day, closing above $1395/oz. As we pen this article, Gold has to chance to break $1400/oz by the weekend. The close of the month (and quarter) next week will provide an additional clue as to th...Read More
Bullion's powerful rally this week has kicked this popular mining-stock vehicle into high gear. I haven't tracked it in quite a while but aim to do so now, provided it remains feisty and interesting. In that regard, GDX looks like it's about to ratchet up the interest-level, although not in a way we might have preferred. Notice that Thursday's energetic short-squeeze brought the ETF within inche...Read More
Apart from the technical, Iranian issue is also contributing to gold's rise. Momentum is bullish for gold and crude oil. Silver has a lot of potential to rise IF it tries to play catch up with gold. China is trying to mediate for a denuclearization of the Korean peninsula. Developments in Korea will not have any effect on gold or currency markets. One should look for signs of profit taking bef...Read More
PRIVATE BLOG – Gold reached $1415.40 Private blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com.https://ask-socrates.com/Read More
QUESTION: Mr. Armstrong; you are the only person who forecasts gold without bias. How will gold respond to the war rattling with Iran?PDANSWER: They will always paint gold as the a never ending bull market in the face of war. Perhaps us old-time traders learned the hard way – buy the rumor but sell the news. If we look at gold’s performance during the first Gulf War in 1990, it rallied...Read More
The signs of memory loss can be scary: misplaced keys, forgetting where you parked, a task you suddenly can't remember, repeating a question over again that was just answered. Five million Americans are estimated to have Alzheimer’s disease and related dementia, according to the Centers for Disease Control and Prevention - a figure that's projected to grow to 13.9 million by 2060.To date, th...Read More
Are you accustomed to receiving a fat tax refund from the IRS... money that you often use for a summer vacation or to save for a rainy day?This year, though, you might've gotten a smaller one than expected. Or worse yet, you may have had to include a check when you submitted your 2018 return.You're not alone.According to the IRS, the average 2018 refund check for early filers was $2,640... 16% les...Read More
Click Here to Listen to the Interview - *the interview begins at 07:42Marc Faber, Dr. Doom, joins me for a must-hear discussion on debt, the global economy and the future of the dollar. Marc tells us how much he believes the average investor should have in gold and silver right now and reveals which precious metal he favors most going forward.Click Here to Listen to the Interview - *the interview...Read More
Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWee...Read More