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
REGN has had a rough go on the charts long termRegeneron Pharmaceuticals Inc (NASDAQ:REGN) is moving lower this morning, last seen down 0.9% at $317.63, even after the drugmaker revealed positive topline results from a Phase 2 study of its IL-33 antibody in asthma, being developed with Sanofi (SNY). Specifically, the antibody met its main goal of improving of asthma control and its secondary endpo...Read More
Some traders may be showing caution ahead of next week's G-20 meeting The S&P 500 Index (SPX) could be due to pull back today following a run to fresh highs on Thursday. Futures on the Dow Jones Industrial Average (DJI) and Nasdaq-100 Index (NDX) are below fair value, too, with some traders potentially already turning their focus to next week's big G-20 meeting, where President Donald Trump is exp...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
Domestic prices for hot-rolled coil in Turkey have moved down over the week, sources told Fastmarkets on Friday June 21.Fastmarkets' weekly price assessment for Turkish domestic HRC was $500-520 per tonne ex-works on Friday, compared with $520-530 per tonne ex-works a week earlier.Turkish mills have been offering the material at $520-530 per tonne ex-works, while deals and "workable prices" were r...Read More
Indian local secondary billet prices in the current week have fallen sharply by at least 1,600 rupees ($23) per tonne on weak demand while finished product makers such as rebar mills curtailed purchasing semi-finished products.Fastmarkets' assessment of the price for Indian domestic secondary billet stood at 28,100-28,300 rupees per tonne ex-works on Friday June 21, down by 1,600 rupees per tonne....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
The CIS export billet price neared $410 per tonne by the end of the week, as market participants had expected. They cited the drop in import scrap prices in Turkey as well as lack of demand in the major sales markets as reasons for the weakening of the price.Fastmarkets' daily CIS export billet index was $411 per tonne fob Black Sea on Friday June 21, down by $7 from Thursday.A 50,000-tonne cargo...Read More
The light iron market has dropped ?5 ($6.35) per tonne in the UK over the past week, on slower domestic demand and a fall in European export prices, sources told Fastmarkets on Friday June 21.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?80-100 ($102-127) per tonne on June 21, compared with ?85-105 per tonne previously. The move follows a ste...Read More
With each passing Fed meeting, it looks very likely that committee members are going to vote to cut rates by year-end. The question is now, "how many?"The dollar is unloved by its domestic central bank and president, both of which appear to want it lower.Gold has broken out of a 4-year trading range, and the pent-up energy should propel it much higher in the months to come.As opined in m...Read More
The London Metal Exchange has just finished its trial to calculate nickel prices using a volume weighted average price (VWAP) method on the exchange's electronic trading platform. If early indications are anything to go by, metals market participants did not embrace this method of price discovery in the way some had anticipated. For three months since Monday March 18, closing prices for nickel car...Read More
It's Friday, Friday, Friday. Jim Cramer weighs in on the surges in gold and oil, Slack's (WORK) first full day as a public company and Canopy Growth's (CGC - Get Report) earnings report. Markets In case you missed it... On Friday, gold prices surged to a six-year high as investors sought safety from falling global currencies, negative interest rates and the prospect of escalating military tension...Read More