28
Mar

Current Thoughts 3/28/2017

From the Trading Desk Since the beginning of March, US equities have been on a steady decline but the selling pressure waned over the past two days.  The Dow held its 50 day moving average yesterday and rallied 150 points today.  The Dow’s losses over the past month eventually translated into increased risk appetite and safe haven buying for gold.  …

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21
Mar

Current Thoughts 3/21/2017

The dollar couldn’t break through that 99.48 level and stay there today. It came close and we like that as gold bugs, but it may take a little bit longer to be convincingly lower. Gold is also up against the $1,250 resistance but should push through it very soon. Silver a bit of a laggard but also ready for a …

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19
Mar

Current Thoughts 3/19/2017

This is something to behold. A Fed Chairman that literally called GDP data “noisy.” I was so shocked that I had to stop the TV and get a snapshot of it. At the time, the dollar started to fall and guess what? It hasn’t stopped falling yet, dipping once already to under 100. For this reason, gold shot up higher …

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14
Mar

Current Thoughts 3/14/2017

From the Trading Desk The markets, from equities to commodities, are quiet today ahead of tomorrow’s much anticipated FOMC statement.  While it is widely expected that the Fed will increase the benchmark rate by .25%, participants are still sidelined today ahead of the decision.  Volume in Comex April gold stands at only 155,000 lots so far today, the lightest it …

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12
Mar

Current Thoughts 3/12/2017

The Fed will make their announcement this week on interest rates and everyone knows they will raise rates. Gold has not sold the news yet but I expect it to this week. Maybe it just wants to wait for the actual announcement though. Gold mining stocks however took the Friday Unemployment report as a sign to move higher. I think …

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7
Mar

Current Thoughts 3/7/2017

From the Trading Desk Since failing multiple times at its 200 day moving average, gold has trended lower and has fallen in its last four consecutive trading sessions.  Fed rhetoric from multiple officials is pointing towards the increased likelihood of a rate hike next week.  The combination of a technical failure at the 200 day moving average plus this chatter …

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