Gold and silver a little bit up over their resistance levels of $1,100 and $14 in Asian trading. Dollar is down 13 cents to 99.47. Gold and the dollar still acting opposites of each other of late and we have to see now if the dollar continues finally past that 100 mark or if we give gold one more chance …
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21
2016
Current Thoughts for 1/21/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, ECB President Mario Draghi, EURO, Gold, index, QE, range
From the Trading Desk At the European Central Bank meeting today, key interest rates and the existing 1.5 trillion euro monetary stimulus program were left untouched. In ECB President Mario Draghi’s commentary, the door was left open for further stimulus measures to be considered at the next meeting should the central bank deem them necessary. The euro tanked against the …
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20
2016
Current Thoughts for 1/20/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: 10 year, Deflation, Dollar, Gold, markets, risk, Safe Haven, Treasuries
We are getting a sign of what’s to come this year once again today as the markets sell off, but we’re not quite there yet. What we saw occur was gold rise but the gold mining stocks fall for most of the day. Gold was even up $17 at one point yet the mining ETFs I follow were getting hammered …
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19
2016
From the Trading Desk Overnight, Chinese economic data revealed worse than expected GDP growth (y/y) for 2015 with the figure coming in at 6.90% versus 7.30% a year earlier. It was the slowest growth rate for 25 years but the Shanghai Composite Index ended up rallying over 3% on the day. Investors shrugged off the disappointing GDP figures and instead …
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18
2016
With the long weekend for the U.S. markets we are opening up in China with the Nikkei with not much action as all await the Chinese GDP number. This should set the tone for the week. Metals are opening slightly lower as all eyes once again are on oil. The metals are stuck in a range and when in this …
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14
2016
Current Thoughts for 1/14/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: $1, 000, Baltic Dry Index, Deflation, Gold, market, silver, stock
From the Trading Desk The tumultuous start to the year for equities has once again given investors reason to contemplate having exposure in precious metals. In the last week, investors have bought nearly 900,000 toz of gold via exchange-traded instruments backed by the metal. This is the biggest increase in ETF holdings since January of 2015 and demonstrates gold’s safe …
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13
2016
Current Thoughts for 1/13/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Comex, derivatives, GLD, Illusions of Wealth, junk bonds, paper gold, redemptions, Stone Lion, Third Avenue
Gold moved higher today with the dollar up and then flat. Silver though was a stronger metal today moving higher from the beginning of the day before flatlining. Silver moved up noticeably with platinum and palladium. Why was gold a laggard today? I imagine there was more money involved in keeping it at bay through the paper derivatives market. Physical …
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12
2016
Gold continued lower today and then stalled out. I made a call in the trading room at Seeking Alpha to switch to JNUG/NUGT and we caught some of that nice ride up and went home flat for the day. We are still in that trading range for the metals and the dollar still gave us the inverse direction today telling …
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11
2016
Current Thoughts for 1/11/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: China, EURO, Gold, higher, JDST. DUST, resistance, silver, YEN
With the dollar up overnight we had to do a quick reversal on our gold trades in the trading room at Seeking Alpha and we caught a good run in JDST and DUST. Gold fell below the $1,100 resistance and the technical marke of $1,095.80 but just by $1. Silver fell below its resistance at $14. The dollar moved higher …
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10
2016
Current Thoughts for 1/10/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Bernanke, CNBC, Dollar, fed, Gold, Illusions of Wealth, QE3, Richard Fisher, zerohedge
Gold is moving up in Asian trading and even though we had a setback on Friday we still closed above the $1,100 resistance. Silver is also right at resistance and a bounce is still underway. Dollar is down 2 cents in Asian trading. I am reaching out to former Dallas Fed President Richard Fisher for my book Illusions of Wealth …
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