From the Trading Desk On Friday, silver closed at $19.305 basis the active September silver contract. The open on Sunday gapped immediately lower though and saw over 5.5 million ounces trade in the opening minute. Silver traded all the way down to $18.83 in that first minute of trading before settling into an uninspired range around $19 for the rest …
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22
2016
Gold is still weak and silver weaker following yesterday’s Current Thoughts. Dollar is still the Key and overnight we have a chance at a stronger dollar and pressure on the metals with Kuroda from Bank of Japan speaking. It’s about time they do something to weaken the Yen, which I have been calling for. We had a nice 13%+ return …
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21
2016
Gold is starting the week down in Asia but silver has turned weaker faster and is now under the $19 resistance although it did bounce just now over $19 again. The dollar still needs to cooperate to put some punch into this downturn in metals by rising over 95 again and the jury is still out on that. I have …
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18
2016
From the Trading Desk: Yesterday’s Fed minutes provided some brief excitement in an otherwise dull week of trading action. The main takeaway from the minutes was that Federal Reserve opinion is deeply divided. This serves to reconfirm that a September rate hike is highly unlikely. The primary concerns for the members of the Fed include inflation being below its …
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16
2016
From the Trading Desk As has been typical during this last month of summer so far, it has been yet another quiet start to the week for the precious metals. Gold remains range bound with support at the recent double bottom of $1,330 and resistance at $1,360, the seventh point on a trendline dating back to July 6th. After an …
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15
2016
Current Thoughts for 8/15/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: bound, Gold, range, Schikman, show
Despite gold and silver’s slight move up today, they are still acting weak and more of the miners are also acting weak as attested to GDX turning red on the weekly ETF Trading Service we offer today. The dollar falling a little kept gold and silver in the green but even with the stock market doing well, miners wanted to …
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11
2016
Current Thoughts for 8/11/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, Gold, podcast, Real Talk San Diego
Today we had gold pullback again which is what I said it might do on the Real Talk San Diego show I was on yesterday. If you haven’t had the opportunity to listen to it yet, you can do so by going here: The first 19 minutes is small talk before getting into the nitty gritty of what I think …
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9
2016
Current Thoughts for 8/9/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, Gold, hedge fund, Illusions of Wealth, Real Talk San Diego, secret indicator, US Mint sales
From the Trading Desk It has been an absolutely lethargic start to the week for the precious metals. Gold has traded in a mere $12 range so far this week and its attempt today to recover from Friday’s strong payroll figure was underwhelming at best. The physical coin and bar market in North America and Europe continues to disappoint with …
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8
2016
Current Thoughts for 8/8/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, education system, Gold, Illusions of Wealth, investment advice
When there isn’t much to talk about with gold and silver, I don’t know how repeating the same thing over and over again matters. The dollar is moving up slightly and gold is falling slightly today was the big news. In other words, no real news at all. Miners moved up with stocks today and was not a bullish gold …
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4
2016
From the Trading Desk In a unanimous vote, the Bank of England cut its benchmark interest rate for the first time in seven years to a record low of .25%. The revision in policy, which includes buying 60 billion pounds of government bonds over six months, occurs amidst officials slashing growth forecasts by the most ever and is an attempt …
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