Gold fell as the dollar did bounce off of 95 today and someone over at Seeking Alpha took issue with the language I used in describing the 95 area as resistance, rather than his preferred term “support.” When I am challenged like this I respond with explanations on how my brain works, which is not like most brains work, and I …
Read MoreAug
2
2016
Current Thoughts for 8/2/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: book, Illusions of Wealth, Japanese, stimulus
From the Trading Desk Sinking energy prices and floundering bank shares have contributed to the Dow Jones trading lower for a seventh consecutive day. Global bourses headed lower overnight for the second day in a row, spurred by the Japanese government’s new stimulus plan which disappointed investors. The stimulus package entails $73 billion in new spending with an overall total …
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1
2016
Pretty boring day for the metals, but they were up slightly with the dollar also up. Most everyone who reads these words know I am still counting on a dollar run higher and it seems more are seeing it that way. The jury is out on how much of an effect this will have on precious metals. We have to …
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28
2016
Current Thoughts for 7/28/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Banks, crash, Deutsche, Dollar, DUST, EURO, fed, Germany, Interest rates, raise, stess test, STOXX
Yesterday we had the Fed meeting and as expected, no change in rates. They did ramp up their rhetoric as usual about an improving economy and the odds of a September rate hike went up slightly but it looks like another December potential hike in the works, assuming the world doesn’t implode before then. Our main indicator the dollar trumped …
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26
2016
Current Thoughts for 7/26/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, Economy, fed, Gold, raise, rates, september
Dollar down, gold up. Any questions? Today’s comment I made was to an article that was talking about how higher rates were coming because of an improving U.S. economy. You would think this was written by Janet Yellen herself, or someone else at the Fed. Here was my reply; You can’t have growth in the U.S. economy without production. Here’s …
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25
2016
Current Thoughts for 7/25/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, fed, Gold, volatility
Gold started the day lower in Asia on Sunday evening and there was no real reason to update Current Thoughts. Today we continued lower as the dollar was stronger but as the day wore on the dollar started to fall a bit and gold/silver rose. This is textbook inverse action that I have been saying is what to watch for …
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21
2016
Current Thoughts for 7/21/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, Doug Eberhardt, Gold, pullback
Gold had a blip up this morning and if you were following along with my DUST trade you will know I took 75% of it off yesterday for about a 15% profit and the rest early this morning for a little over 12% profit. Not bad for 2 days work. I did not put that trade back on but I …
Read MoreJul
20
2016
Nice to see that I can still call the micro moves in gold pretty well as we wait and see if we get that last smackdown I expect with the potential of a deflationary credit contraction. We can all admit that no one is perfect in calling markets but the one indicator that helps me and you the most decipher …
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19
2016
Current Thoughts for 7/19/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: CFTC, coup, equities, ETFs, ounces, trend, Turkey
From the Trading Desk Just as the market was about to close this past Friday, news broke out of a military coup in Turkey. Gold immediately rallied $15 as geopolitical concerns over the NATO-member attracted bids to the safe haven allure of the yellow metal. It became apparent fairly quickly over the weekend that the coup had failed though and …
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18
2016
Current Thoughts for 7/18/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: CBO, China, debt, doom, doomsdayer, Economy, Global slowdown, gloom, Gold, production, projections, Schiff, slowing, U.S. Congress
Gold continued its range bound moves and today silver slipped below $20 for the first time showing some weakness. Is silver leading gold lower? The dollar is still holding steady at 96.60, and putting pressure on the metals. A move over 97 and staying there may be the first nail in the short term coffin for gold. What you really …
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