By: Ira EpsteinGold in an up thrust. Gold at a new high close, highest level since 2012:Read More
Long-term Trend AnalysisSilver faces very heavy overhead resistance from $18 all the way to $21 which means that it is going to be tough going and take significant effort for Silver to reach let alone breach $21. Whilst there is strong support at $16 and $14.5 (ignoring the crash low of $11.64). Therefore as was the case in January the long-term chart continues to warn to expect Silver to mark tim...Read More
Donald Trump appears tohave torn a page from Ahead of the Herd’s manual for recharging the USeconomy. In an earlier article we said what the globaleconomy really needs, in this low-growth, spending-stalled environment broughtabout by the pandemic, is a push - something big that will attract hugeamounts of investment, and workers. As we have suggested, this could be a massiveinfrast...Read More
The economic pressures and concerns within the global marketshave not abated just because the US Fed has ramped up the printing presses.Inversely, the stock market price levels may be elevated based on a falseexpectation of a quick recovery and of future expectations that may be veryunrealistic.In terms of technical analysis, Gold has set up a very interesting sideways basing pattern after recentl...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 24 that are worth another look.The threat of Section 232 tariffs on aluminium imports from Canada into the United States has, like the great white shark following the Brody family in the universally panned film, 'Jaws: The Revenge,' returned - akin to a truly awful horror movie franchise.The Materials Services trading arm of...Read More
Wepreviously wrote that while it was tempting to bet on crude oil’s prices due totheir weakness, it was not a good idea from the risk to reward point of view,as black gold didn’t invalidate the breakout above the early-March high. And itwas definitely a good idea not to enter a short position then either – crudeoil moved higher since that time. Atthe moment of writing these words...Read More
European producers of hot-rolled coil have raised their domestic prices despite trading activity remaining scarce, sources told Fastmarkets on Wednesday June 24.Some market sources questioned the success of the increase because demand levels do not support a price recovery. Others, however, believed that buyers will have to accept slightly higher prices due to high raw material costs and a lack of...Read More
In recent issues of Seasonal Insights, my colleague TeaMuratovic and I shared our analysis of global stock markets with you. Today I want to put a popular precious metal under the magnifying glassfor you: silver.Silver, often referred to as the "little brother" of gold,has a particularly interesting seasonal pattern I would like to show to you. Silver's seasonality under the magnifying g...Read More
Nickel premiums in all regions traded flat in the week ended Tuesday June 23, with demand for the metal being weak in all global markets.Negative arbitrage between the London Metal Exchange and Shanghai Futures Exchange kept China trade subduedUptick in European briquette inquiries on SHFE deliverability from October failed to result in higher premiumSubdued spot trade steadied US nickel premiums....Read More
Gold Stock Seasonal AverageThe HUI Gold Bugs index has over the last 2 decades (encompassing both bull and bear markets) tended to bottom in July per stockcharts.com‘s data for the index. A seasonal average is not a directive, but it is a () guide to be factored. Last year gold stocks bottomed in May as we caught what would be a violent upswing. This year I expect the low to be in June or Ju...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Poised for a technical breakoutFears over a second wave of Covid-19 continue to grow, forcing prices of aluminium and the other base metals to take a pause. Our base-case scenario is that countries will respond more efficiently to contain the virus spread, so economic activity and metal demand should continue to r...Read More
Gold’s powerfulpost-stock-panic upleg hasn’t enjoyed buying support from the gold-futuresspeculators. These influential tradersoften drive and even dominate major gold-price trends. But they’ve been subtly selling into gold’ssharp recent rally. Their doggedskepticism is actually very bullish for gold in coming months. Gold-futures speculators are ama...Read More
Stewart Thomson, Graceland Updates 1. With a new tail wind of significant ETF tonnage growth, gold bullion continues to sport the best charts of all the major asset classes.2. Please click here now. Double-click to enlarge. The $1800 area is significant resistance and gold arrived at this resistance zone as its weak price season began. 3. Rather than selling of...Read More
By: Ira EpsteinGold in an up thrust. Gold at a new high close, highest level since 2012:Read More
Inflationremains low, while Powell signals dovish Fed for years. Good for gold. The US CPI inflation ratedeclined 0.1 percent in May, following a0.8 percent drop in April. The decrease was mainly driven by decreases in energy,transportation and apparel prices. The core CPI also declined 0.1 percent, following a 0.4percent drop in April. It was the third consecutive monthly decline, whichhappened f...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 24 that are worth another look.The threat of Section 232 tariffs on aluminium imports from Canada into the United States has, like the great white shark following the Brody family in the universally panned film, 'Jaws: The Revenge,' returned - akin to a truly awful horror movie franchise.The Materials Services trading arm of...Read More
Mike Gleason: It is my privilege now to welcomeback Michael Pento president and founder of Pento Portfolio Services. Michaelis a well-known money manager, market commentator, and author of thebook, The Coming Bond Market Collapse: How to Survive the Demise of theU.S. Debt Market. He's been a regular guest with us over the years, andit's always a pleasure to have him on with us. Michael,...Read More
Gold investment demandremains strong, buoying the yellow metal and its miners’ stocks. Investors have continued actively diversifyinginto gold despite soaring stock markets and weaker summer seasonals. The Fed’s extreme money printing fuelingthese precarious stock-market heights is perilously inflationary, making uppinggold portfolio allocations essential. Thisongoing...Read More
Although the gold to silver ratio has tightened a bit, it remains elevated and could indicate more upside for silver, according to McAlinden Research Partners.Silver and silver miners popped in May on the back of a rebound in industrial activity around the world. Ultra-low interest rates and expectations of a weaker dollar have compounded several political pressures that begun popping up at the en...Read More