Are commodities bottoming out? Perhaps they might for a short trip higher here with the news from Saudi Arabia about price support for oil. It brought oil and natural gas higher today for a couple good trades, but nothing really gave us that wow factor. While oil and natural gas did bounce, gold started the day down, moved higher when …
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22
2015
Gold is down in early morning Asian teading. I technicallyrics don’t expect too much action heading into the holiday. Overall the dollar will continue higher and gold lower with minor bounces along the way. Short and not so sweet today.
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19
2015
Gold and Silver Current Thoughts 11-19-2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
From the trade desk: It’s been basically a straight trajectory south for the precious metals since the end of October but today finally brought about some positive price action for them. Gold has rebounded from six year lows, silver has managed to hold above $14, platinum has recovered from seven year lows, and palladium is consolidating below $550. Yesterday’s …
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18
2015
Gold and Silver Current Thoughts 11-18-2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Avi Gilburt, cpi, dealer, DUST, ElliottWaveTrader.net, Gold, interview, jdst, jnug, metals, nugt, silver
Gold and silver struggled to stay up in the morning and I was bullish on them most of the day as we finally got a good trade higher in JNUG and NUGT in the trading room over at Seeking Alpha. U.S. dollar was up, then down and gold responded to it a hair. Currently it is higher in Asia. We should …
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17
2015
Gold and Silver Current Thoughts 11-17-2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Better, Dollar, gap, Gold, investment, lower, prices, silver
Gold finally did it, closed below the prior lows from July of $1,080, closing at $1,068.50, losing $15 for the day. We are now heading towards that $1,000 level I spoke of back in February that we would hit. In fact, many of you know I have been calling for lower prices in gold since at least July of 2014 …
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16
2015
Gold and Silver Current Thoughts 11-16-2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: agenda, calm, Gold, markets, Obama, radical, Syria, terrorists
With all the turmoil going on in the world, gold started the Asian trading up nicely, but by the time Obama spoke and calmed the markets about sending in troops on the ground in Syria, after being asked 4 times the same question on his foreign policy decisions in Turkey at the G20 meeting, he was adamant not to do …
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15
2015
Gold and Silver Current Thoughts 11-15-2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: $1, 080, Deflation, Gold, Illusions of Wealth, lows, PMI, resistance, Retail Sales
I’m seeing that gold doesn’t want to break down to new lows for the year. This resistance has been tested all week and just can’t break it. I’ll note that gold miners perked up today and next week we may get a little run higher in gold and the miners. I wrote this report on Friday and the only thing …
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12
2015
From the Trading Desk Lower, lower, lower… the precious metals just can’t seem to catch a break. Gold has now traded lower in ten of the last eleven trading sessions. The only positive about gold’s price action today was that it managed to find bids and bounce off the huge support level at $1,075, the low from this year as …
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11
2015
Gold and Silver Current Thoughts 11-11-2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: 1000, chart, Dollar, Gold, resistance, stronger
Gold fell today while at the same time the dollar was down and mining stocks higher. Who is leading whom here? I think the market itself is confused with gold leading the way lower. We simply need to break that 52 week low and $1,000 is the next stop. We’re simply dealing with some 12 year resistance in the dollar at …
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10
2015
Gold and Silver Current Thoughts 11-10-2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: all in, deflationary, Dollar, Gold, market, mining stocks, natural gas, oil, outlook, rates, svxy, TLT, Warren Buffett
From the Trading Desk US economic data on Friday showed that non-farm payrolls rose by 271,000 in October, substantially more than the consensus estimate of 185,000. The positive US data further validated a higher interest rate environment and had reverberations throughout the financial markets. The USD shot up against a basket of currencies while the euro fell to its lowest …
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