With no data coming out today, the market makers had fun with the markets, not matter what you were trading today. They do this especially on Fed decision weeks and we also have options expiration on Friday. This was especially true for the stock market today where we saw the DOW down most of the day then the rug pulled …
Read MoreJun
9
2016
From the Trading Desk: Sustained USD weakness since last Friday’s poor US employment data has translated into safe haven buying for gold this week. For three days, the 50 day moving average (currently at $1,248.30) capped the market but gold decisively broke through it yesterday as the USD had its fourth consecutive down day against a basket of currencies. US …
Read MoreJun
7
2016
Current Thoughts for 6/7/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, Federal Reserve, Gold, higher, mining stocks, USD, Yellen
From the Trading Desk Friday’s US non-farm payroll figure came in significantly worse than expected with employers adding the fewest number of workers in almost six years during the month of May. The USD tanked and gold skyrocketed as the markets pushed back expectations of a Federal Reserve rate hike in June. Gold was already on tenuous ground after trending …
Read MoreJun
6
2016
Current Thoughts for 6/6/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, Economy, fed, global, high, talk, top, Yellen
Today we had a little volatility in gold on Yellen’s speech. Can you guess from the following chart what time Yellen spoke? (the answer is just after 12:00 where the bar spiked to a new high and new low within minutes of each other. For the life of me I don’t understand the Fed. I continually talk about how many …
Read MoreJun
2
2016
Current Thoughts for 6/2/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, fed, June, moving average, non-farm, payroll, rates
From the Trading Desk On the Friday immediately preceding Memorial Day weekend, gold closed out the week disappointingly after trading lower for five consecutive days. In the absence of the US market on Monday of this week, that weakness continued and in thin trading conditions, gold tested all the way down to psychological support at $1,200. It immediately rebounded off …
Read MoreJun
1
2016
Gold started off higher today with the dollar falling as Japan’s Shinzo Abe decided to hold off on raising taxes for a few more years. This strengthened the Yen and by default this weakens the dollar and pushed gold higher. Bt then a funny thing happened the rest of the day. The dollar climbed a small amount but gold and …
Read MoreMay
31
2016
In lieu of Current Thoughts today I have posted an article to the blog for you to enjoy. Currency Implosion Venezuela; Who’s Next and Gold Thoughts Currency Implosion Venezuela; Who’s Next and Gold Thoughts
Read MoreMay
30
2016
Gold seems to be finding some major resistance to move lower at the $1,200 mark and silver at $16. The dollar is also struggling at present to make the next move up and it’s quite possible we get to retest the highs in gold and silver again and lows in dollar before we do what I believe to be a …
Read MoreMay
26
2016
Current Thoughts for 5/26/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Chinese, Dollar, faith, illusion, money velocity, wage growth
From the Trading Desk With the UK closed this coming Monday for a bank holiday and the US heading into a three day weekend for Memorial Day, the markets are likely to finish out this week quietly. The USD has finally started to back off its recent highs with the USD index trading lower for the second day in a …
Read MoreMay
25
2016
Current Thoughts for 5/25/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Chinese, Dollar, faith, illusion, money velocity, wage growth
Gold was weak again today but silver was a bit bullish. The dollar was actually down a bit but still holding steady at 95.40. We saw miners get hammered early but then mount a very nice run into the afternoon as the overall market did quite well today. In Doug Eberhardt’s perfect world we have a higher stock market and …
Read More