Gold and Silver Current Thoughts 3-26-2015

Current Thoughts On Gold And Silver

From the Trading Desk Unrest in the Middle East has caused crude oil to rally over 15% in the last five trading days.  A coalition of ten countries led by Saudi Arabia has launched air strikes in Yemen against Shia Houthi rebels to “defend the legitimate government” of President Abdrabbuh Mansour Hadi.  While Yemen is not a large oil producing country, the situation creates instability in the region as a whole.   Shia-dominated Iran has already demanded that Sunni-ruled Saudi Arabia immediately … [Read more...]

Gold and Silver Current Thoughts 3-25-2015

Current Thoughts On Gold And Silver

Gold tried to push past the $1,200 round number resistance this morning but just couldn't do it. Silver also struggled with the round number of $17 but did manage to sneak above it for a bit to $17.11 before closing under at $16.95. The miners didn't like what gold and silver were doing and retreated from the highs the entire day as the overall stock market also fell hard today with the DOW down 292 points. Are the miners in "buy the dip" mode or is the party over? Everything I read still … [Read more...]

Gold and Silver Current Thoughts 3-24-2015

Current Thoughts On Gold And Silver

From the Trading Desk Since the Federal Open Market Committee meeting last Wednesday, gold has traded higher for five consecutive sessions.  With a strong weekly close on Friday, it finished out the week trading above double top resistance at $1,175.  Its ascent has continued so far this week with the psychological level of $1,200 as the next near term target to watch for to the upside.  Silver’s move has been even more impressive than that of gold.  Since Wednesday of last week, silver is up … [Read more...]

Gold and Silver Current Thoughts 3-23-2015

Current Thoughts On Gold And Silver

Gold and silver continued their merry march higher today as the dollar is under pressure again, falling below 97. The mining ETFs did quite well yet again. For my favorite JNUG, whether you got in today at 21.39, yesterday at 20.45 or a few days ago at 17.94 this has been a good run so far with 25 possibly being the next stop. Move stops up from 19.36 to 20.00. JDST falling like a knife again, down under 10 to 9.50. Don't try to catch falling knives. At some point JDST will become a play … [Read more...]

Gold and Silver Current Thoughts 3-22-2015

Current Thoughts On Gold And Silver

After a great week last week for gold and silver, will the trend higher in metals continue this week? If trading in Europe provides us with any clue, then the answer is mixed with not much action so far. Gold and silver had another good day Friday to continue Wednesday's strong signal of short term trend. Silver was actually more bullish than gold and has given us a weekly green arrow up. Gold is up $1.50 in Asia to $1,186.10 but silver is down 8 and 1/2 cents to $16.798. JNUG gave us a … [Read more...]

Gold and Silver Current Thoughts 3-19-2015

Current Thoughts On Gold And Silver

From the Trading Desk Yesterday’s Federal Open Market Committee release had, yet again, confusing dichotomous language which left market participants unclear on the intended monetary path going forward.  On one hand, the Fed finally removed from the statement a promise that they would be “patient” and said they would consider raising the benchmark rate as early as June.  If this were the only message, it would have been decidedly bearish for the precious metals.  Of course there was more … [Read more...]

Gold and Silver Current Thoughts 3-18-2015

Current Thoughts On Gold And Silver

I have to say that the title of my last article from yesterday fit the action in the "Data is Dead; All Hail the Fed!" I followed that up with the questions; What Does this Data Tell Us? Does the Market Care? The market ignored the data and we actually heard Janet Yellen say the Fed won't raise rates in April, but could shortly thereafter. I wrote recently that the Fed isn't thinking about raising rates any time soon, but may do so just so save credibility. This is the "talk the talk" I spoke … [Read more...]

Gold and Silver Current Thoughts 3-17-2015

Current Thoughts On Gold And Silver

If you haven’t read it already, I posted an article to the site today called; Data is Dead; All Hail the Fed! It is an insightful look into the data we have had the last month and what impact it should have on the Fed's decision tomorrow. From the Trading Desk The US dollar index hit a 12 year high this week and, unsurprisingly, the precious metals are feeling the pain.  Gold is making four month lows while platinum has fallen to a five and a half year low.  Investors and traders appear to be … [Read more...]

Data is Dead; All Hail the Fed!

Fed Week Volatility

What Does this Data Tell Us? Does the Market Care? All the market cares about is what a few words from the Fed meeting say tomorrow, not what the data tells us. That's what we'll find out tomorrow with the results of a two day Fed meeting culminating in an announcement about the future of interest rates. Traders and markets will then jump on the trend whichever direction it goes (but if history repeats, it will be UP for the markets). Data is dead, all hail the Fed! It just so happens I … [Read more...]

Gold and Silver Current Thoughts 3-16-2015

Current Thoughts On Gold And Silver

There really wasn't much action at all in gold and silver today. A little dip to test the $1,150 mark in gold and silver the $15.50 mark. The miners were still acting weak with JNUG down 4.59%, and GDXJ down 1.43% but NUGT was up .43% and GDX up .22%. It seems they are still trying to put in a bottom before a move higher. But the Fed meeting starts tomorrow and by Wednesday we will have our answer as to direction. I see a possible move higher still tomorrow and then a take down maybe after the … [Read more...]