Gold is still struggling hitting some lower lows as it approaches that magic $1,300 support area and decides whether or not it wants to move lower. With the problems in Europe with Deutsche Bank (DB), and a Euro that is feeling the effects of the repercussions of other banks being affected by DB’s shenanigans. I don’t think the press is …
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29
2016
From the Trading Desk Chinese gold imports from Hong Kong totaled 1.64 million ounces in August, down 15% from the same period last year. The figure is the lowest monthly import of the year and represents a 45% drop from the 2.9 million ounces imported in July. Gold trading at multi-year highs has quelled the appetite of the world’s largest …
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27
2016
Current thoughts 9/27/16
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Brian Bain, debate, Dollar, Gold, Hillary, Interest rates, Investor in the Family
From the Trading Desk For three consecutive days leading up to last night’s highly anticipated presidential debate, gold traded in an uninspired $13 range. Market participants had taken chips off the table with the expectation that a clear winner of the debate could potentially cause a knee jerk reaction in other markets. While most polls had Hillary Clinton slightly winning …
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25
2016
Gold and silver are opening up flat in Asian trading with other metals lower and the dollar is down 12 cents. After a Fed week where gold moved higher on nothing new from the Fed, gold is trying to figure out if it wants to move higher or lower and so far hasn’t pushed below that $1,300 support level. The …
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22
2016
Current thoughts 9/22/16
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, fall, fed, Gold, long, silver
After the Housing data today, we had a turnaround in the market. Perhaps the euphoria over Fed speak is 24 hours later contemplated as an understanding there is weakness with the economy which the Fed sees in the data, but the market trades on what the Fed does with interest rate decisions instead of the data. Today the data caught …
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21
2016
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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19
2016
Current thoughts 9/19/16
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: BOJ, decision, Dollar, DOW, fed, rates, Stock Market
I don’t know about you, but the sale of precious metals have dried up with this latest turn down in the price of gold. Normally there would be more buy the dip investors but I think many are in a wait and see mode. We may not have to wait long with the BoJ decision tomorrow that can shake things …
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15
2016
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
2016
Current thoughts 9/13/16
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: 100 day moving average, 1300, BOJ, decline, Gold, Japan, lower, lowering rates, miners
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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12
2016
We’ve had a nice whirlwind in the gold market but guess what? The metals have reacted almost perfectly inverse to what the dollar is doing. If you had a crystal ball as to what the dollar was doing, you could “trade” the metals in and out quite well. But most of us buy and hold metals and my advice is …
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