Gold and Silver Current Thoughts 5-28-2015

Current Thoughts On Gold And Silver

From the Trading Desk In the overnight session, the Shanghai stock exchange had its biggest drop in four months (6.5%) after it was disclosed that a Chinese sovereign fund reduced investments in the biggest state owned banks for the first time. This was the biggest equity sell off since China tightened up margin trading rules in mid-January. The bearish Asian equity tone carried over to the US session where the Dow and S&P finished mildly lower. The precious metals seemed to mostly ignore … [Read more...]

Gold and Silver Current Thoughts 5-27-2015

Current Thoughts On Gold And Silver

The news of the day was the continuing belief that Greece can resolve their issues and how the markets eat it up like how many believe politicians when they make campaign promises. For me, I'll take Bill Gross' take on Greece. He said the following today; A Greek exit from the euro zone could "discombobulate" currencies and open the door for contagion to other heavily indebted nations, bond investor Bill Gross said Wednesday. Here's another good take on the reality Greece if facing from CNBC … [Read more...]

Gold and Silver Current Thoughts 5-26-2015

Current Thoughts On Gold And Silver

Thoughts from the Trading Desk After the long Memorial Day weekend in the US, the markets came back today to a decidedly bearish tone across a variety of assets. Equities, precious metals, energy, and the euro were all in a sea of red today while the Vix index, a gauge of overall market volatility, closed up on the day nearly 16%. US economic data mildly beat expectations and encouraged participants to flock to the USD. The revision for April Durable Goods Orders came in better by a full 1% … [Read more...]

Gold and Silver Current Thoughts 5-25-2015

Current Thoughts On Gold And Silver

Gold has opened up slightly in early morning hours in Asia, still above the $1,200 resistance level and still in a range overall. Silver has been slightly stronger than gold and resting above the $17 resistance level. With the dollar perched above 96 on the Index now, it seems to be putting more pressure on the metals and this will continue unless the dollar moves below 96. Watch a break above 97 on the Dollar Index to get confirmation that gold may be headed to new lows. There is no earth … [Read more...]

Gold and Silver Current Thoughts 5-21-2015

Current Thoughts On Gold And Silver

From the Trading Desk Yesterday’s Federal Open Market Committee minutes failed to cause a stir in the precious metals markets.  According to the minutes, most participants think it is unlikely that economic data in June will provide satisfactory evidence to raise the target range for the federal funds rate.  Notably, dollar strength may have a greater and longer lasting adverse effect on exports than previously anticipated.  Gold finished out the trading day after the minutes in the exact same … [Read more...]

Gold and Silver Current Thoughts 5-20-2015

Current Thoughts On Gold And Silver

This is one of those days where there just isn't much to say about gold and silver. We waited all day for some news from the Fed and when it came, we just didn't get much action. I saw many ETFs get whipsawed today and that's what market makers do with news. They try and run stops both ways. Take a look at UVXY today. Fed minutes released and it broke higher, the fell to a lower low, then it reversed and went to a higher high from pre'2pm. Classic market maker running of stops.  The dollar … [Read more...]

Gold and Silver Current Thoughts 5-19-2015

Current Thoughts On Gold And Silver

From the Trading Desk In the overnight session, a European Central Bank board member said that the central bank would front load its purchases in bond buying to May and June.  The accelerated quantitative easing program caused the euro to lose ground against the USD.  As the New York session began, the euro tumbled even more with the release of strong US economic data.  New construction on homes surged 20% in April, the fastest increase since late 2007.  The positive housing data encouraged … [Read more...]

Gold and Silver Current Thoughts 5-18-2015

Current Thoughts On Gold And Silver

The dollar above 94 on the index is giving gold a little pause today. This coupled with a record breaking stock market is currently causing gold to decide if it wants to break out higher or now. The big news this week will be Wednesday with the release of the Fed minutes. This typically brings volatility to the markets and should with gold and silver as well. There's a lot of data coming out this week and since we see market trading on data day to day, expect the same this week. It is … [Read more...]

Gold and Silver Current Thoughts 5-17-2015

Current Thoughts On Gold And Silver

In lieu of today's Current Thoughts I have written an article for you on the blog.   Understanding Where We Are Now with the Price of Gold and Silver     … [Read more...]

Understanding Where We Are Now with the Price of Gold and Silver

Dollar Index 5-13

Many who read what I write know that I sell gold and silver coins and bars for a living. You also know I call the markets like I see them. I try to distinguish short term patterns and help investors buy gold and silver at the right time. I have been dollar bullish for the most part, because of the problems with the Euro and Yen, which I have written about for several years. This has had an effect on the price of gold until recently when we saw the price of gold bounce with a dollar … [Read more...]