From the Trading Desk Plunging commodity prices and the euro backing off from recent highs have weighed on gold so far this week. A Bloomberg index of 22 weighted commodities has fallen to its lowest level in over 16 years. Following last week’s OPEC meeting which effectively decided to keep output high for the consortium and highlighted discord between Iran …
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7
2015
Current Thoughts for 12/07/2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: $1, 000, benefits, book, DUST, Illusions of Wealth, jdst, precious metals
Gold took it on the chin again today and was down $15 showing some real weakness with the dollar up about 45 cents. We managed to take some great profit from JDST and DUST in the afternoon once we saw the direction develop, but I did make the call pre-market to trade these long once gold broke below $1,080.30. Are …
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6
2015
Current Thoughts for 12/06/2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: $250, $5, 000, Deflation, Gold, Harry Dent, wrong
In lieu of today’s Current Thoughts, please read my latest article; Why Harry Dent’s Call For Gold To Go To $250 Is Wrong https://buygoldandsilversafely.com/gold/why-harry-dents-call-for-gold-to-go-to-250-is-wrong/ Harry Dent doesn’t understand the Fed’s existence is inflation and will fight tooth and nail against deflation making his predictions of $250 gold silly
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3
2015
Current Thoughts for 12/03/2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Deflation, Dollar, Draghi, ECB, Gold, Inflation
From the Trading Desk European Central Bank President Mario Draghi said today that the ECB will broaden the range of assets purchased and extend its quantitative easing program until at least the first quarter of 2017. The program will maintain the monthly purchases of 60 billion euros and will expand to include regional and local government debt. Draghi noted that …
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2
2015
Current Thoughts for 12/02/2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, DOW, EURO, fed, Yellen, YEN
Gold did break to a lower low today. I had warned before the markets opened in our Trading Room over at Seeking Alpha that we should look down, not up and we locked in our profits in JNUG and NUGT. The dollar shot up and as I wrote yesterday we are looking at the Draghi ECB decision tomorrow to be …
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1
2015
Current Thoughts for 12/01/2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: 2009 financial crisis, December, Deflation, Economy, fed, Gold
From the Trading Desk On surprisingly strong volume for the Friday after Thanksgiving, gold dropped to its lowest level in six years. The return from the slow US holiday week has allowed gold to regain some lost ground though. It held and formed a double bottom at $1,050 and has rallied two days in a row. Despite the move higher, …
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30
2015
Current Thoughts for 11/30/2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: 8 indicators, central banks, congress, Debt to GDP, Deflation, Gold, Greece, Illusions of Wealth, IMF, insurance, safety
Gold had a nice pop today and the $1,050 resistance for gold and $14 for silver seems to be holding. The dollar is still struggling right at the 100 mark finishing up 10 cents at 100.18. Something has to give here soon and I think we continue higher with the metals but let the dollar below 100 be your key. …
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29
2015
Current Thoughts for 11/29/2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Deflation, Dollar, Gold, resistance, Seeking Alpha, Yellen
Friday in light trading we had a nice smackdown in gold but it is staying above the $1,050 resistance at present. In early morning trading in Asia it is flat at $1,058. Silver is staying above the $14 resistance and has been resilient in doing so, but still could break down as it is presently just 5 cents above that …
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26
2015
Current Thoughts for 11/26/2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: 3rd phase, bottom, commodities, Gold, higher, metal, ounce, physical, richard russell, wealth
What I am Thankful For One of the first gentlemen who taught me about gold was Richard Russell, who at 92 just passed away this last Saturday. He wrote his Dow Theory Letters to the very end. I am thankful that I was able to read his thoughts for almost 14 years. That encounter with his work was the first …
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24
2015
From the Trade Desk With the US Thanksgiving holiday just a few days away, the precious metals markets are ticking along quietly and consolidating in their new lower ranges. Even Turkey (the country, not the animal you’ll be eating on Thursday) shooting down a Russian fighter jet near the Syrian border couldn’t excite the precious metals at all today. After …
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