From the Trading Desk Chinese equity trading was halted again overnight for the second time this week. The yuan fixed at a new low and Chinese equities dropped 7%, the loss limit which halts trading. The dramatic sell off in China has sent shock waves through other markets with global bourses taking the biggest hit. In the US year to …
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6
2016
Current Thoughts for 1/06/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: bounce, CNBC, fed, Fisher, Gold, wealth effect
I’m putting on my short term bull hat for gold and silver. At the end of yesterday’s report I said gold is moving up while the dollar is up for 2 days and showing some strength and that I have to lean long. It also didn’t break the $1,050 close level which was also bullish. Silver is moving at snails …
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5
2016
Current Thoughts for 1/05/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: bullish, DOW, fear, Gold, rallies, sold, vix
From the Trading Desk The year has kicked off with some fireworks… not so good if you’re long equities, but at least gold has started things off in positive territory. On Sunday night the Shanghai Composite Index dropped 7%, triggering a “circuit breaker” that suspended equity trading nationwide. The heavy liquidation was attributed to the People’s Bank of China setting …
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4
2016
Current Thoughts for 1/04/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: China, Dollar, DOW, DUST, Gold, jdst, weakness
The dollar fell overnight and gold gapped up 11 early then moved up 6 more before the dollar began climbing. It still finished a nice day higher and could be signifying a short term reversal. Even before today’s smack down of the DOW where at one point we were down over 420 points, I had been calling for a lower …
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3
2016
Current Thoughts for 1/03/2016
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: $1, 000, below, bottom, decisions, Gold, investors, pressure
This is the year that gold bottoms! The question is when? Not until it breaks below $1,000. It is after this move that at some point closer to the bottom I will write my all in article. It is at that point I will be going after any critic of gold with full force. It has taken me 5 years …
Read MoreDec
30
2015
Current Thoughts for 12/30/2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: 2016, all in, Armageddon, CNBC, ETF Leveraged Trading Service, Gold, Power Lunch
`Today was a day where gold gave up trying to move higher and now we have to wonder whether we can break that $1,050 resistance overnight with China or have to wait till January. We are not seeing any strength in the metals. Silver also weak and under the $14 mark. I have a sneaky feeling with a light day …
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29
2015
Current Thoughts for 12/29/2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: advisors, experts, financial, Illusions of Wealth, Investments, lose, Money, mutual funds, needed
Today was a nothing day for the metals as we saw the dollar move higher and gold a bit higher with it. Silver held up better than gold. Not much action going into the end of the year. Once the gold desk closed, traders took off. A little tease of my next book Illusions of Wealth; Are Financial Advisor’s Needed? …
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28
2015
Current Thoughts for 12/28/2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: 2010, 2011, 2016, CNBC, end, Erin Burnett, ETF Trading Service, Gold, Illusions of Wealth, January, Mark Haines, Mining Package, rally, We the Serfs, year
Today’s Current Thoughts are a continuation of yesterday’s so I recommend reading yesterday’s thoughts first. I tracked those on CNBC for years and their confusion about gold was prevalent everywhere. I have video clips of Mark Haines and co-host Erin Burnett asking the question, “what is gold?” when it was trading at $1,246 an ounce, not understanding why it was valuable. The …
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27
2015
I listened to a video clip of the CNBC show Happening Now where two of the guests and the lady journalist who runs the show ganged up on Peter Schiff and his predictions about the Fed not raising interest rates and his calls to buy gold that have not worked out well for investors. Peter Schiff I have criticized on …
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23
2015
Dollar was up and gold down today but the mining stocks had a good bounce in the morning. With the dollar higher today I am not as bullish as I was the last few trading sessions. I’m more neutral on my micro view heading into the holiday with a leaning down in miners if we get the markets to move …
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