From the Trading Desk In a move that sent shockwaves through every financial market, the UK voted to exit the European Union on Friday of last week. Gold immediately skyrocketed from the low $1,250s all the way up to over $1,360 with the price jumping all over the place for a large chunk of Friday’s early trading session. The fallout from …
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27
2016
Current Thoughts for 6/27/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: 1400, book, Dollar, lower, micro, prices, topping
Whipsaw price action in the metals today. We saw some up and down moves in the dollar too. I have to think the Brexit fears are overdone at the moment and we may get a fall in the dollar, rise in the Pound and Euro, and an overall move higher in the markets. Futures are already up 425 to 1989.25 …
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26
2016
Current Thoughts for 6/26/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Analysis, Brexit, drop, Gold, high, instrinsic, Research, risk, safety, Seeking Alpha, value
In Thursday’s Current Thoughts I write that I was bullish on gold and silver no matter what the outcome and said the following; “Gold can still move up to $1,400 on momentum and short covering and any move higher towards that number I would be a seller, especially for mining stocks.” Gold got to $1,368 on that run and closed …
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23
2016
Current Thoughts for 6/23/2016 Brexit Edition Part 2 Voting Ends
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Bremain, Brexit, Gold, silver, Vote, voting
What a crazy day it’s been for the markets. I said we might have a melt up before the markets opened and we sure did today as the DOW took off over 200 points today when everyone was thinking the vote was going to be Bremain. I said futures may test that 2120 level when they were at 2097 and we …
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23
2016
Current Thoughts for 6/23/2016 Brexit Edition Part 1 Early Voting
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Brexit, conspiracy, elites, Illusions of Wealth, leave, stay, Vote, We the Serfs
The beginning of the Brexit vote has futures much higher and everything looking bullish for the markets, stronger for the Euro and weaker for the dollar with gold somewhat flat at $1,265.40 and Silver up to $17.42. Other metals like platinum and palladium are down a bit. It looks like we are having one more melt up in the markets. …
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21
2016
Current Thoughts for 6/21/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Brexit, Dollar, Gold, higher, polling, The Economist, Thursday, Vote
From the Trading Desk Gold took another crack at the psychological barrier of $1,300 last week but ultimately failed yet again to sustain gains above it. Now the market is anxiously awaiting the results of the imminent Brexit decision. On Thursday, UK voters will head to the polls to decide whether or not the United Kingdom will remain a part …
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19
2016
Gold and silver are gapping down in Asian trading with silver in the 17.30’s and gold in the mid $1,280’s. The news of the week will come in 4 days, June 23rd with the Brexit vote and whether or not voters will want Great Britain to leave the European Union. It seems that the consensus is they will. This is …
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16
2016
Current Thoughts for 6/16/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Brexit, Dollar, DOW, eat, expiration, Gold, options
Did someone say volatility this week? Most everyone who trades knows that the week of the Fed announcement we get some good moves in most all markets. When coupled with options expiration coming this Friday, the moves can be even more severe and that is what we have seen this week and especially today in gold and silver. Even the …
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15
2016
In lieu of Current Thoughts tonight I refer readers to my latest blog article; Gold One More Leg Higher and the Case for A Last Leg Lower
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14
2016
Current Thoughts for 6/14/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Baltic Dry Index, Economy, fed, forecast, GDP, Gold, higher, Interest rates, oil, rate hike, resistance, weapons
Gold continued the move higher today but had at $13 range making its typical Fed week volatile moves. The dollar however is stronger because of Brexit fears and a weaker Euro with the vote coming June 23rd and the chances of a Brexit increasing. But gold will be all about the Fed decision on interest rates tomorrow. Will they raise …
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