From the Trading Desk Following the two week run up in gold to kick off the month of February, the yellow metal has spent the last week consolidating in this new higher range. US data was positive this morning with January home sales rising .40% month on month versus the expectation of -2.50%, this was up 11% in comparison to …
Read MoreFeb
22
2016
Current Thoughts for 2/22/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: $1, 200, 30%, break, drop, Gold, oil
In lieu of today’s Current Thoughts I wrote an article over the weekend that explains where I am presently with my thinking. This is also confirmed with my new book Illusions of Wealth due out in a few weeks. Can The 2008 30% Drop In Gold Price Happen Again? http://seekingalpha.com/article/3915686-can-2008-30-percent-drop-gold-price-happen Gold is presently up in Asian trading. Markets have topped …
Read MoreFeb
21
2016
Current Thoughts for 2/21/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: article, Banks, congress, fed, Gold, Seeking Alpha, The Big Short
I have an article that will be coming out exclusively on Seeking Alpha as soon as they approve it. I will post the link here and on the blog. I finally found the time to watch The Big Short over the weekend and appreciate those who kept telling me to go watch it. I don’t know how one can take …
Read MoreFeb
18
2016
Current Thoughts for 2/18/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: deflationary contraction, Dollar, ECB, gold Draghi
I can hear readers now, saying the gold bull has started and Doug Eberhardt missed this one. I disagree. You’ll see below what I think is going to happen and today we saw gold take off higher but not because of a falling dollar. Something will change this dynamic and it may have already started with gold falling $7 from …
Read MoreFeb
17
2016
Gold and silver were up and down today and are now in a range between $1,200 and $1,215 waiting for a breakout one way or the other. The dollar is stuck below 97 and so as long as it stays below 97 we have to lean long gold. Over 97 and lean short gold. It’s 96.78 right now. Silver took …
Read MoreFeb
16
2016
Current Thoughts for 2/16/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: $1, 200, China, Gold, Interest rates, lows, moving average, support
From the Trading Desk At the beginning of last week, it looked like gold was running out of steam as it failed two days in a row at the psychological resistance level of $1,200. But then Federal Reserve Chair Janet Yellen gave a two day testimony which breathed new life into the yellow metal. The comment that really caught the …
Read MoreFeb
11
2016
Dollar down, gold up as it flew past 2012 and up over 60 dollars at the high today. Silver also tagged along for the ride. Silver is finding resistance at 16 and gold gave back some by the end of the day too. Part of the reason might be the end of day bullishness in the markets and oil because …
Read MoreFeb
10
2016
Current Thoughts for 2/10/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: $19 trillion, Dollar, Gold, national debt, strong, weak
Gold started the day lower and moved up with every word Fed Chairwoman Janet Yellen spoke today. It’s because she was blowing smoke, The stock market waited and listened too for her to say something promising and by the end of the day lost it as well. There will be no rate increase in March and I will say no …
Read MoreFeb
9
2016
Current Thoughts for 2/9/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: $1200, 200 day moving average, Chinese New Year, Gold, high, silver
From the Trading Desk Over the last five trading days, gold has shot up nearly $60, taking out the 200 day moving average, trendline resistance, and the previous eight month high. It may have finally met its match at the psychological resistance level of $1,200 though. It has failed to break through $1,200 multiple times over the last two trading …
Read MoreFeb
8
2016
Current Thoughts for 2/8/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: $1, 200, Chinese, Dollar, DUST, ECB, Gold, Japan, QE, rates, resistance
Yesterday I said; ” We still overall see some short term dollar weakness and gold is running up towards its $1,200 resistance. Silver just hit $15 and could go up to the $16 resistance. You’ll recall these resistance levels from last year.” Today we hit $1,200 twice and pulled back to $1,190 by the close. The dollar did fall some …
Read More