21
Sep

Current thoughts 9/21/16

Fed week gave us what we expected, a no move by the Fed, something I predicted last December when I said, unlike the Fed who called for 4 more rate increases, this would be a one and done. Here we are in September of 2016 and the Fed said today they “may” do one more rate increase this year. But …

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15
Sep

Current thoughts 9/15/16

From the Trading Desk The downward pressure on gold continued yet again today as it traded lower for the fifth time in the last six trading sessions.  Some heavy selling emerged around the NY open which pushed gold down to just above its 100 day moving average.  But, yet again, the 100 DMA held as support and gold was aided …

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13
Sep

Current thoughts 9/13/16

From the Trading Desk The markets were a sea of red today with the Dow Jones falling over 250 points and closing below its 100 day moving average for the first time since late June.  A slump in crude oil and energy equities led the broader stock market and commodities complex lower.  Uncertainty concerning next week’s Federal Reserve monetary policy …

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9
Sep

Current thoughts 9/8/16

Gold is looking weak again but the dollar is down under 95. I’ll use over 95 short gold and under 94.50 long gold as my parameters at present.  If you don’t know anything about shorting gold or hedging your long gold positions, listen to the experts.  Will we be entering a deflationary credit contraction that can take gold down further? It …

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7
Sep

Current thoughts 9/7/16

Today we saw the dollar move higher and gold move lower with silver after the opposite occurred yesterday. Nothing moves in straight lines but we have to figure out whether this weakness in metals will gain momentum again or not. Luckily we have the dollar to tip us off. Overnight we have the ECB interest rate decision that should keep …

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6
Sep

Current thoughts 9/6/16

Dollar down, gold and silver up. It’s amazing what two days of bad economic data can do to gold, but Friday’s miss on jobs and today’s miss on ISM got the dollar heading south once again and gold and silver both to skyrocket higher. Mining stocks also shot higher on this news but ironically the market in general is still …

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5
Sep

Current thoughts 9/5/16

Gold and silver are up in Asian markets after a slight move up yesterday when only Asian and European markets were open. Where to from here? Friday we saw precious metals move higher after a lousy jobs number that came in worse than expected. The jury is still out on how this momentum will play out once  U.S. markets open …

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