Range bound trade in gold and silver should be broken this week and a new range should be formed. There will be good demand in gold as long as it trades over $1480. There will be good demand in silver as long as it trades over $1680. Copper, zinc and nickel are poised for a ten percent one way move. Industrial metal price moves will be dependent on perception of recession among traders. Chinese...Read More
StrengthsThe best performing metal this week was gold, up 0.51 percent. Gold traders and investors are positive on future gold prices in this weeks' Bloomberg survey. For the first time in a month the gold bulls outnumbered the combined bearish and neutral responses. ETFs added 39,919 troy ounces of gold to their holdings on Thursday, marking the 14th straight day of inflows, according to Bloomb...Read More
https://edsteergoldsilver.com/YESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUM(05 October 2019 -- Saturday) The gold price crawled quietly higher until around noon China Standard Time on their Friday -- and then didn't do much of anything until the jobs report hit the street at 8:30 a.m. in New York. It was sold down about ten bucks or so over the next thirty minutes -- and back below $1,500...Read More
Avi Gilburt, Elliott Wave TraderAs the media highlights the potential impeachment process in the coming weeks, many are so concerned that this will be the "cause" of the market drop we are expecting. Yet, history suggests otherwise.The narrative will certainly play out as follows: The market likes certainty and stability within our government. (Please ignore that this was the same reason many cl...Read More
The Dow Industrials ended the week with an 800-point Whoopee Cushion bounce that recouped two-thirds of a 1300-point loss suffered days earlier. The swoon, exhilarating as it may have seemed to traders, will do little to brighten an economic picture that has gone from boom to gloom since mid-summer. One might think that the dark cloud of recession over China and Europe would have caused investor...Read More
By: Ira EpsteinGold's short-term trend is lower, finding support at the 18-week moving average..Read More
Range bound trade in gold and silver should be broken this week and a new range should be formed. There will be good demand in gold as long as it trades over $1480. There will be good demand in silver as long as it trades over $1680. Copper, zinc and nickel are poised for a ten percent one way move. Industrial metal price moves will be dependent on perception of recession among traders. Chinese...Read More
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