From the Trading Desk Gold’s run up on Tuesday following the Belgian terrorist attacks was short-lived. Safe haven bids vanished as Tuesday’s trading session moved later into the US time zones with gold retreating into the mid-$1,240s to close the day. The markets have acclimatized to these types of terrorist incidents and with each passing one, it appears that the …
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23
2016
Current Thoughts for 3/23/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: CBO, Economics, Gold, Illusions of Wealth, McCain, national debt, Obama, projections, Republicans, trillion
Dollar up, gold down. We resumed the relationship that I have been saying would eventually get on track again. The dollar has moved from 100 to 95 and now is back to 96. Nothing goes straight down and nothing goes straight up but it doesn’t take much to speculate that there are many problems in Europe and the Euro and …
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22
2016
Current Thoughts for 3/22/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Belgian attacks, Dollar, Gold, resistance, Safe Haven
From the Trading Desk Gold looked like it was about to break below double bottom support at $1,240 overnight and then terrorist attacks in Belgium reversed its course. ISIS has claimed responsibility for explosions that killed 34 civilians in Belgium, 14 people at the check-in desks at Brussels airport and 20 bystanders at a Metro station near the European Union …
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21
2016
Current Thoughts for 3/21/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: $1, 280, 300, ETF, Gold, resistance
The dollar took off a bit higher today moving up over 30 cents and gold fell $10. I’m still thinking we have a little move higher in gold from a very micro point of view. I wouldn’t mind seeing the $1,300 mark broken to trap some last minute bulls before the rug is pulled out from under them. It has …
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20
2016
Current Thoughts for 3/20/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: book, Dollar, falls, futures, Gold, Illusions of Wealth, release
Gold and silver it seems are gearing up for the next leg in their venture and despite the potential of one more leg higher I have to say this fun is coming to an end sooner than later for the precious metals. For that matter, you can add in the stock market too as well as oil. The only question …
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17
2016
From the Trading Desk Gold traded lower for four consecutive days and looked like it was on the verge of collapsing below trendline support at $1,225 yesterday. This was all until the FOMC statement came out at 11 AM PST and completely reversed gold’s fortunes. The FOMC left rates unchanged and lowered the projected number of rate hikes from three …
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16
2016
Current Thoughts for 3/16/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: dollar crash, Economy, fed, Gold, rates
Today was a day where the Fed backtracked on their raising rates 3 to 4 times this year because of lingering risks to the economic outlook. On this news gold shot up as the dollar sank. I have been pointing out how the Fed cannot raise rates based on the data I see. I have gone so far to say …
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15
2016
Current Thoughts for 3/15/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Democrats, Economy, exit polls, Gold, money velocity, Republicans
From the Trading Desk After failing on a third attempt to close above $1,280 at the end of last week, gold has spent the last three consecutive trading days trending lower. It held support at $1,225 overnight, the fifth point on a trendline dating back to mid-January, but the momentum has certainly shifted downward this week. Should this $1,225 level …
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14
2016
In lieu of Current Thoughts today, please read my latest article posted to the blog called Gold: Where To From Here?
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10
2016
Current Thoughts for 3/10/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: $1, 300, Dollar, Draghi, ECB, EURO, Gold
From the Trading Desk In the overnight session, the European Central Bank cut interest rates across the board and expanded its monthly bond purchases by one-third to €80 billion per month. The ECB cut its main refinancing rate for Eurobanks to the historically low 0% while the deposit rate on excess reserves was slashed even further to negative .40%. European …
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