Gold is looking weak again but the dollar is down under 95. I’ll use over 95 short gold and under 94.50 long gold as my parameters at present. If you don’t know anything about shorting gold or hedging your long gold positions, listen to the experts. Will we be entering a deflationary credit contraction that can take gold down further? It …
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7
2016
Current thoughts 9/7/16
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: China, crisis, Draghi, ECB, jobless claims, market
Today we saw the dollar move higher and gold move lower with silver after the opposite occurred yesterday. Nothing moves in straight lines but we have to figure out whether this weakness in metals will gain momentum again or not. Luckily we have the dollar to tip us off. Overnight we have the ECB interest rate decision that should keep …
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6
2016
Dollar down, gold and silver up. It’s amazing what two days of bad economic data can do to gold, but Friday’s miss on jobs and today’s miss on ISM got the dollar heading south once again and gold and silver both to skyrocket higher. Mining stocks also shot higher on this news but ironically the market in general is still …
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5
2016
Gold and silver are up in Asian markets after a slight move up yesterday when only Asian and European markets were open. Where to from here? Friday we saw precious metals move higher after a lousy jobs number that came in worse than expected. The jury is still out on how this momentum will play out once U.S. markets open …
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1
2016
Current thoughts 9/1/16
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: market, precious metals, support, trending, US unemployment
From the Trading Desk The market has had a week to digest Janet Yellen’s commentary at the Jackson Hole economic symposium, and it has so far interpreted her remarks as bearish for gold and the rest of the precious metals complex. The Fed has maintained that a rate hike would be predicated upon improved US economic data and that the …
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31
2016
Current thoughts 8/31/16
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: EDZ, ETF Trading Service, foreign, Interest rates, precious metals, returns, russ, SQQQ, Stock Market
Below you will find another sneak peak at my ETF Trading Service. I will be going public with it tomorrow. Today’s Trade Alert and Trade Updates Below you will find the updates for the trades closed from yesterday, the new round trip trade in UVXY and 3 additional trades. The stops on the new trades are: RUSS 11.48 SQQQ 14.37 …
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30
2016
Current thoughts 8/30/16
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: 100 day moving average, fed, Gold, hike, rate, september, trading, Yellen
From the Trading Desk With the UK out yesterday for a bank holiday, the precious metals started off the week quietly (even by August standards). A boring session was probably necessary though after the volatile trading day seen on Friday in the wake of Janet Yellen’s speech at the Jackson Hole economic symposium. Gold traded all over the place as …
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29
2016
Gold and silver started the day lower in Asian and European trading and kept moving higher throughout the morning. The key point here though is they are hitting lower lows which shows weakness. Watch the $1,300 level to be broken next as another nail in the short term gold strength coffin. But what is the real reason for gold and …
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25
2016
Current thoughts 8/25/16
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Economy, Gold, markets, Yellen
Gold and silver continued lower today with gold reaching a 4 week low. The dollar was down, then up and a little down by the close and metals market is a little confused right now. We sold out of all of our short gold positions today as we await the words of Janet Yellen tomorrow from where she is speaking …
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24
2016
Gold and silver continued the decline and we got a bounce in the dollar today. What if the dollar headed to 100 again? This is in the cards and I am still dollar bullish. If you haven’t signed up for the ETF Trading Service yet, you’re missing out. The following trades are just from this week. Today we exited 50% …
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