Gold is really finding it hard to make up its mind these days, but I noticed with some good data today, they couldn’t knock it down too much. I think it is hanging in there and with the dollar not going positive today it is a sign of a possible short term bounce. It’s mid-range now between 99 and 98 …
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24
2016
Current thoughts 10/20/16
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: bear market, Dollar, manufacturing, outages, Technology, websites
We have seen the dollar move higher for awhile off the May/June lows and the more it keeps pushing higher, the more it is setting up for another decline. I am thinking that is coming soon, but today we got some good manufacturing data that caused it to move higher. This after overnight data from Japan and Germany for manufacturing …
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19
2016
Interesting thing going on with gold and silver and the dollar. This marks the second day that gold has moved up and the dollar moving up as well. Neither is moving up by much, but it’s interesting to me because mining stocks moved up the last two days rather nicely. Some of us took advantage of that but are flat …
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18
2016
For the ETF Trading Service I run, we have been long JNUG and NUGT for a few days, catching the early trend, and we got out today partial shares with an over a 14% profit on JNUG and a 10% profit on NUGT. Gold itself with silver didn’t make a huge move and the dollar was actually higher. Right now …
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17
2016
Current thoughts 10/17/16
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: China, Dollar, GDP, Gold, volatility
Still getting some volatility in the dollar as it hit 98 twice last week and has pulled back from that level each time, including today. Gold and silver didn’t really participate in the move up as they wait to see if any weakness comes their way. The overall markets got hit again today though and I feel a since of …
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13
2016
Current thoughts 10/13/16
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: 200 day moving average, bounce, FOMC, Gold
From the Trading Desk Yesterday’s Federal Open Market Committee minutes failed to provide any sparks in what has turned out be a boring week of trading for the precious metals. Commentary of note from the FOMC included the following: several officials said the decision to wait for a rate hike was a “close call”, some officials remain wary of important …
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12
2016
Current thoughts 10/12/16
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: buy, Dollar, fed, Gold, minutes, thrashing
In yesterday’s Current Thoughts I said the dollar looked somewhat overbought and I think today we hit the near term high of 98. For the Fed minutes I said yesterday; “we may get some “sell the news” that can help gold move higher,” It looks as if gold is poised for a bounce after the thrashing it has had. Silver …
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11
2016
Current thoughts 10/11/16
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: fed, Gold, interest, meeting, minutes, rates
From the Trading Desk In a perfect storm of fundamental and technical factors, gold and the rest of the precious metals complex finally sold off in dramatic fashion last Tuesday. China’s weeklong holiday drying up physical demand out of Asia, hawkish commentary from a Fed official, and gold testing pivotal moving average and psychological support around $1,300, all proved to …
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6
2016
Current thoughts 10/6/16
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: data, Gold, support, Unemployment
The jobs data came out better than expected today and it pushed gold down once again along with silver while the dollar shot up higher. But the dollar was already up nicely overnight with another low in the Pound. It only moved up 10 more cents on the data which I thought was rather weak. Stocks in general didn’t fare …
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5
2016
After yesterday’s beat down in gold and silver, a little reprieve is due the metals. Today the dollar was flat but we might see it fall under 96 again tomorrow assuming we get the jobs report as less than expected. Today’s jobs data should have been more bullish for gold, but I think there were sellers from yesterday still kind …
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