Jul
14
2016

Current Thoughts for 7/14/2016

By: Doug Eberhardt Category: Current Thoughts on Gold and Silver Tags: , , , , , , ,

From the Trading Desk The Bank of England kept its key interest rate unchanged at .50% and signaled that further stimulus will come in August to aid the post-Brexit economy.  Economists had factored in an 80% chance that Britain would lower its benchmark rate in the wake of the UK leaving the EU.  Its decision to maintain the status quo …

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Jul
13
2016

Current Thoughts for 7/13/2016

By: Doug Eberhardt Category: Current Thoughts on Gold and Silver Tags: , , , , ,

Gold took a trip higher today with silver as the dollar fell for most of the day. The dollar has been range bound since the Brexit vote and you’ll see gold move the opposite  direction of which way it breaks over or under the purple lines in the chart below. Until we break those lines the metals should be range …

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Jul
12
2016

Current Thoughts for 7/12/2016

By: Doug Eberhardt Category: Current Thoughts on Gold and Silver Tags: , ,

From the Trading Desk With the Dow Jones and the S&P challenging all times highs, gold is finally showing some vulnerability and has traded lower for the second day in a row.  This past Friday’s strong US jobs number provided a sense of calm in the wake of Brexit and US equities have reacted accordingly.  Counterintuitively, gold and silver also …

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Jul
11
2016

Current Thoughts for 7/11/2016

By: Doug Eberhardt Category: Current Thoughts on Gold and Silver Tags: , , ,

No report needed tonight. Everything status quo from yesterday. Something to think about; Regarding deflation, you need to look at leading indicators like a countries manufacturing PMI. In China it is declining. http://m.investing.com/economic-calendar/chinese-caixin-manufacturing-pmi-753 As China goes, so goes the world. The world PMI is contracting since April 2015 as well. http://www.tradingeconomics.com/world/manufacturing-pmi Yes, there are success stories and blips up. For …

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Jul
6
2016

Current Thoughts for 7/06/2016

By: Doug Eberhardt Category: Current Thoughts on Gold and Silver Tags: , , , , ,

Another day and gold along with silver move higher. But an interesting thing occurred today. Gold never broke it’s pre-market level hitting a higher high.  Gold’s high was $1,376 this morning and it got as high as $1,370.90 during market hours and waited for a higher mark of $1,327.50 after hours. Silver future’s high was $21.20 and it is presently …

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Jul
5
2016

Current Thoughts for 7/05/2016

By: Doug Eberhardt Category: Current Thoughts on Gold and Silver Tags: , , , , , , , ,

From the Trading Desk Despite the US being absent from the market yesterday for the July Fourth holiday, there was still plenty of movement in the precious metals.  In thin trading conditions during the Asian time zone, silver ran all the way up to touch $21.22 on the active September Comex silver contract.   The move was short lived though as …

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Jul
4
2016

Current Thoughts for 7/04/2016

By: Doug Eberhardt Category: Current Thoughts on Gold and Silver Tags: , , , , , , ,

I kept an eye on overnight action in Asia on Sunday and gold and silver moved higher with the dollar down slightly into European trading. For Monday July 4th, gold and silver opened higher with the dollar down but now there seems to be a reversal in both. Gold did get to the $1,350 level but could not break the …

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Jun
30
2016

Current Thoughts for 6/30/2016

By: Doug Eberhardt Category: Current Thoughts on Gold and Silver Tags: , , , , , ,

From the Trading Desk As far as US equities are concerned, the fallout from Britain’s referendum to leave the European Union is already ostensibly an afterthought.  Following a two day plunge for the Dow, it has now spent the last three days recovering nearly all of its losses from the Brexit decision.  Even with US equities recouping losses, the precious …

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Jun
29
2016

Current Thoughts for 6/29/2016

By: Doug Eberhardt Category: Current Thoughts on Gold and Silver Tags: , , , , , , ,

We had a strong move up in silver today, past the $18 resistance we have been looking at for 2 months now. Silver closed off it’s highs but I still lean bullish until gold can take out that intraday high of $1,362 from Friday. That to me will signal the last leg up as long as the dollar continues to …

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