Physical gold and silver slipped today but the miners took last weeks physical buying as a reason to move higher. Silver was a little more buoyed today with its score moving from -100 to -90. GDX also improved to -90 while gold maintained its -100 score. Banks Making Calls for Lower Gold More are coming out and calling for gold …
Read MoreNov
2
2014
Silver is now at a 55 month low and gold continues to decline in Asia with a stronger dollar due to Bank of Japan’s increase in stimulus. Dollar Strength There are two dollar charts I want you to consider. The dollar is flirting with the 87 level at present and the chart from the last 10 years below shows we …
Read MoreOct
30
2014
Gold and Silver Outlook 10-30-14
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, ETF, fed, gdx, GLD, Gold, Interest rates, miners, silver, SLV
The mining stocks took it on the chin big time today. But the start of the day was JDST again up a whopping 26%. JDST is up about $10 a share from when I first mentioned it. Being that it is down 72% of the year, it is no wonder that it had room to move higher as the mining …
Read MoreOct
29
2014
Gold and Silver Outlook 10-29-14
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, ETF, fed, gdx, GLD, Gold, Interest rates, jnug, miners, silver, SLV, ugaz
In today’s midday report I pointed out some of the shortcomings of the Fed reading the market which is why they are still keeping their low interest rate policy for the time being despite ending QE. Will they do QE again if necessary? Sure they will. How will any new QE be viewed differently than the old QE if it …
Read MoreOct
29
2014
Gold and Silver Outlook 10-29-14 – Midday Report
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, ETF, fed, gdx, GLD, Gold, Interest rates, jnug, miners, silver, SLV, ugaz
The Fed has spoken and as I wrote in yesterday’s Current Thoughts that the Fed won’t do anything. Specifically I said; My guess is the Fed will NOT tip their hand tomorrow and QE will come to an end, but I do think that when the minutes come out in a couple weeks, it will show more discussion on whether …
Read MoreOct
28
2014
Gold and Silver Outlook 10-28-14
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: dennis gartman, ETF, gdx, GLD, Gold, jnug, silver, SLV, ugaz
We got some volatility today with gold and silver as they bounced off their most recent lows slightly, but it was the miners that made the biggest moves. JNUG did break to a new 52 week low but both GDX and NUGT only came within a few cents of their lows before marching higher. I had said in yesterday’s report …
Read MoreOct
27
2014
Gold and Silver Outlook 10-27-14
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: dennis gartman, gdx, GLD, Gold, jdst, jnug, richard russell, silver, SLV, ugaz
As mentioned in yesterday’s thoughts, gold and silver are struggling to catch footing and the miners I mentioned last week were set to break their 52 week lows again. GDX closed just above its 52 week low. JNUG closed just above it’s 52 week low but is under it after hours. NUGT is also just above its 52 week low. …
Read MoreOct
26
2014
No good news for gold bugs so far this afternoon. Gold and silver opening slightly lower in Asia. After Friday’s non-event where we saw gold and silver scores for the metal and miners move slightly lower, it seems we are still on that same path. I hate to say this, but I do see at some point gold moving to …
Read MoreOct
23
2014
Really not much to add to the midday report I posted. Miners ended up a bit after all hitting 52 week lows. This is what market makers do, they pull it down to break channels, then reverse it for quick profit. Will the miners continue up tomorrow? I don’t know. Might be a good short term play, but gold didn’t …
Read MoreOct
23
2014
Just a quick note that even with gold lower today, as expected, and the mining stocks all breaking their 52 week lows, we have had a nice bounce off those lows. Many times market makers will like to break 52 week lows and those who are technical traders will then jump on the short side, only to be whipsawed out …
Read More