From the Trading Desk The USD, which is at a two month high against the euro and a three week high against a basket of currencies, continues to dictate the direction of the precious metals. Gold has traded lower for five consecutive sessions now and finally broke decisively below its 50 day moving average, a level that it more or …
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23
2016
Current Thoughts for 5/23/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Abe, Abenomics, Deflation, Dollar, exports, Greece, Japan, Mish Shedlock, Shinzo
Gold and silver are in a weak trend lower at present as the dollar seems to have hit a short term bottom still hovering above the 95 level. It has been quite some time for gold not to move past the $1,300 mark and silver stay above $18 and now we are seeing silver lead gold lower. This still tells …
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19
2016
From the Trading Desk Prior to the FOMC statement yesterday, gold was already on shaky ground as it continually tested support ($1,268 at the time) on a trendline dating back to the beginning of the year. Post FOMC, gold was unable to maintain its footing above this area and the yellow metal completely broke down. The Fed minutes rattled markets …
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18
2016
Current Thoughts for 5/18/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: data, Deflation, dollar index, fed, Gold, higher, Interest rates, prices, Recession
You gotta love the Fed. The funny part for this gold analyst is that investors actually believe in what they say and ignore the data, let alone how slow the Fed is to do anything. All last year we heard CNBC and everyone else ask for a rate hike and the entire year the Fed says they were looking at …
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17
2016
Current Thoughts for 5/17/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Gold, moving average, support
From the Trading Desk US equities started off hot today but quickly reversed course after the release of US economic data and commentary from a Federal Reserve official. Consumer prices jumped the most in more than three years as CPI m/m came in at .40% versus economists’ estimates of .30%. The rise in consumer prices, an indication of inflation picking …
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16
2016
In lieu of tonight’s Current Thoughts, please read the blog article here: Is Gold Going To Move Higher Or Lower From Here?
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11
2016
Current Thoughts for 5/11/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: banking, Brexit, bullishness, Dollar, EURO, Grexit, Italy, Japan, Portugal, pressure
We got our answer on the micro level today when we saw the dollar fall below 94 on the index. You will recall yesterday that the dollar resuming its move lower would be bullish for the metals and today we saw that happen and gold move up $13 for most of the day and while silver was up 50 cents …
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10
2016
Current Thoughts for 5/10/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, Gold, index, micro, nonfarm, payrolls, USD, view
From the Trading Desk US nonfarm payrolls disappointed on Friday of last week, adding just 160,000 jobs in the month of April. This was the worst figure since October of last year and well below the consensus estimate of 200,000. Despite the economic release, the USD shrugged off the news and the USD index is now up for the sixth …
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8
2016
Current Thoughts for 5/8/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: China, COT, Dollar, india, lower, NIRP
Many may not know that hedge fund managers have been the worst invest managers of late, not even coming close to the benchmark indexes. I don’t understand why investors want one put their money with someone who typically takes 20% off the top then on average underperformed the market. With the pullback in China and India buying gold, and a …
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5
2016
Current Thoughts for 5/5/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: China, decline, demand, Gold, india, physical
From the Trading Desk After failing to close above psychological resistance at $1,300 for two days in a row, gold has now backed off the key level and has made lower lows for three consecutive days. Besides the technical failure, weak physical demand and the USD gaining ground against a basket of currencies has spurred steady selling in gold this …
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