Gold and Silver Outlook 11-23-14

Gold climbed higher on Friday and finally broke through the $1,200 resistance level and silver climbed higher as well. The mining stocks gapped up higher but like the price of gold, didn't really gain momentum the rest of the day. In Thursday's report I said about UGAZ; "I’d be a buyer if it broke over $18.81 or a buyer of DGAZ now if it broke over $2.90, with stops of course." We got within 1 cent of the buy for DGAZ and I would probably be a buyer of it Monday if we hit that price, with … [Read more...]

Gold and Silver Outlook 11-20-14

11-20-14 GLD CHART

Mining stocks had a nice day today with gold still hovering in the $1,190's.  Silver is still trading in the low $16's and both metals are up week over week. JNUG was up over 10%, NUGT 7% and GDX 2.71%. I would love to see JDST under $10 again where it may become real attractive. Still look at today's highs for possible long trades with stops, and keep an eye on gold breaking the $1,200 resistance to possibly swing trade some of the miners long. From the Trading Desk Gold had a choppy session … [Read more...]

Gold and Silver Outlook 11-19-14

11-19-14 GLD CHART

In yesterday's Gold and Silver Outlook I said we may experience a volatile time before the Fed meeting and we weren't disappointed. This is what market makers love to do in shaking the short term traders out of their positions. Days when the Fed meets or releases the minutes of the meeting are best left to professional traders. Today was no exception to this rule. Gold had a serious smackdown of $20 in just a few minutes today and then an almost immediate move $16 back up. A poll came out … [Read more...]

Is Deflation Still a Threat to Gold?

CCI Index

When you talk to investors as to why they buy gold, many look to the precious metal as being a hedge against inflation. But since 2011 we have been experiencing deflation and the yellow metal has felt the affect of an overall declining commodity market. Many that have been relentlessly bullish on gold since 2011 point to inflation in the money supply. Indeed we do have inflation in M2 Money Supply as you can clearly see from the following chart. The problem is it's not … [Read more...]

Gold and Silver Outlook 11-18-14

11-18-14 GLD CHART

Gold managed to move higher again today surpassing the $1,200 resistance level but closing below at $1,197.10. Silver eked out a small gain. But it was the miners again that took the day. The miners took out yesterday's highs, lingered then kept going higher. GDX was up 4.69%, NUGT 14.62%, JNUG up 20.04% and JDST took it on the chin and was down 21.14%. Is anyone complaining about those returns or the returns the last few days? I expect the weekly's to turn green soon hopefully providing a … [Read more...]

Gold and Silver Outlook 11-17-14

11-17-2014 GDX CHART

Gold and silver fell a little today but have recouped some of the loss since the close. But it was the miners that took the show today with GDX, JNUG and NUGT leading the way. I had said of late that I am leaning bullish from a short term perspective and I am close to becoming more bullish on the miners. If gold and silver can gain some momentum this can be a good trade in the miners. I would prefer to have weekly green triangles for gold, silver and the miners together to have more confidence. … [Read more...]

Gold and Silver Outlook 11-16-14

GDX 11-13

Apologies again for not hitting the "Publish" button for the 11/13 report. Friday gold, silver and the miners started the morning down but took on a life of their own. Gold finished up the day and from the bottom to the top gained over $40 while silver from bottom to the top over $1. Yet the miners couldn't break Thursday's high and the scores stayed the same. Will this momentum carry forward into Monday? Asia Action Well, Asia opened up lower so a "trader" has to make the educated guess of … [Read more...]

Gold and Silver Outlook 11-13-14

11-13-14 NUGT CHART

Somehow forgot to hit "Publish" on this on Thursday, apologies. Gold and silver languished today even with a report showing U.S. jobless claims increased more than forecast. The miners couldn't get past yesterday's highs and JDST broke yesterday's high and was the star of the day where a trader could be sitting on a $2 gain. As I said in yesterday's report, it is still the only ETF with a weekly green triangle and trading long the miners would still be viewed as risky until they bust a move … [Read more...]

Gold and Silver Outlook 11-12-14

11-12-14 NUGT CHART

Gold and silver were flat most of the day and the miners broke to new highs then settled below yesterday's highs. I had said in a morning report I put out that I leaned bullish on them but to keep stops. Was a really tough day to trade them. Professional traders only please. We have three green triangles up for gold, silver and the miners, but they technically don't signal a swing trade until the weekly turns green. For the most part they are day trades only, and at that, they are risky and … [Read more...]

Gold and Silver Outlook 11-12-14 – Morning Update

TZA 11-12-2104

Metals can't seem to get past yesterday's highs but are trying. I lean bullish for a trade if we break the highs from yesterday but it's not a clear up day for gold and silver at all so be quick with stops if it reverses. $18.55 high for GDX yesterday, $18.44 now. $12.98 high for NUGT yesterday, $12.86 now. $4.40 high for JNUG yesterday, $4.37 now. Gold $1,164.70 and Silver $15.64 for reference. I didn't mention UGAZ yesterday, but it fell then and is falling again today. A bounce … [Read more...]