From the Trading Desk With the US off yesterday for MLK Jr. Day, gold pressed higher yet again in thin trading conditions. President-elect Trump’s remark that the USD is “too strong” caused the USD to sell off while fresh longs lifted gold further above $1,200. Overnight, Far East demand remained steady with the Shanghai Gold Exchange trading at $19 premium …
Read MoreJan
12
2017
From the Trading Desk Gold was trading heavily yesterday until Trump’s first presidential press conference provided a lifeline for it to move higher. After several months of risk-on trading sentiment spurred by Trump’s election victory, his press conference seemed to provide more sobering and ambiguous expectations for his presidency. His criticism of the pharmaceutical industry appeared to be one of …
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10
2017
Current Thoughts 1/10/2017
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: consolidation, Gold, moving average, trading
From the Trading Desk Gold has been on a steady decline since Trump’s election victory (and a gradual decline since Brexit), but 2017 has been positive for the yellow metal so far. A retreating USD, consolidating US equity market, strong demand out of China ahead of the Chinese New Year, and market angst over Trump’s presidency, have all contributed to …
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8
2017
Last week there wasn’t much to say when gold is going up. We just enjoy the ride. Tonight you get a look at my ETF Trading Service again where we rode metals up last week, but sold out some and then jumped on the opposite side, then sold and jumped back in the long side. Was a great week overall, …
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4
2017
Current Thoughts 1/4/2017
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: backed, debt, Dollar, Gold, trillion
As we start the new year, gold did have a decent year for 2016 and of late I have been bullish. I am still a little cautious with the stronger dollar. Gold also has to get over the 1180 hump and then 1200 if we are going to have a run back up again. But as many of you know …
Read MoreDec
29
2016
Yesterday, I said “We need gold to move over 1150 then 1200 and the dollar to fall under 102 then 100 for a chance at a run.” We got part of that today when gold finally shot up over 1150. We caught most of that with our ETF Trading Service where we saw JNUG move up 27% today. Amazing! If …
Read MoreDec
27
2016
Current Thoughts 12/27/16
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, Gold, holiday, market
Gold is moving up a bit, but the dollar is still over 103 and was actually up today. The jury is out on whether we have bottomed this time or now. We need gold to move over 1150 then 1200 and the dollar to fall under 102 then 100 for a chance at a run. There may not be any …
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20
2016
Current Thoughts 12/20/16
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: China, FOMC, Gold, hikes, rate, USD
From the Trading Desk While the FOMC delivered the rate hike that the market expected last Wednesday, the language that was conveyed during the meeting caught participants off guard. Specifically, the Fed expressed a hawkish outlook in 2017 with three instead of two planned rate hikes and a longer term rate target moved higher to 3.00% from 2.875%. The USD …
Read MoreDec
18
2016
Current Thoughts 12/18/16
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: 2017, Bush, China, Clinton, contraction, deflationary, Gold, Inflation, jdst, Obama, Reagan, Trump, Twitter
The dollar is still key for metals. Can still go either way but we saw China make some noise and can see it can bounce quickly too. Gold is up 2.90 in Chinese trading with the dollar trading .27 lower. Good start but we’ve been in this pattern before where the dollar finds the will to rebound and move higher. …
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13
2016
Current Thoughts 12/13/16
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: decision, fed, Gold, hike, rate
From the Trading Desk ALL EYES ON THE FED! The much anticipated December FOMC meeting finally arrives tomorrow with 100% of economists polled on Bloomberg anticipating a rate hike. While the decision tomorrow already seems like a foregone conclusion, activity this week has been muted ahead of it. Today, the February gold contract had its smallest volume day (137,000 lots) …
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