From the Trading Desk Yesterday’s Federal Open Market Committee minutes failed to cause a stir in the precious metals markets. According to the minutes, most participants think it is unlikely that economic data in June will provide satisfactory evidence to raise the target range for the federal funds rate. Notably, dollar strength may have a greater and longer lasting adverse …
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20
2015
Gold and Silver Current Thoughts 5-20-2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, fed, lower, market, minutes, rates, release, uvxy, volatility
This is one of those days where there just isn’t much to say about gold and silver. We waited all day for some news from the Fed and when it came, we just didn’t get much action. I saw many ETFs get whipsawed today and that’s what market makers do with news. They try and run stops both ways. Take …
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19
2015
From the Trading Desk In the overnight session, a European Central Bank board member said that the central bank would front load its purchases in bond buying to May and June. The accelerated quantitative easing program caused the euro to lose ground against the USD. As the New York session began, the euro tumbled even more with the release of …
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18
2015
Gold and Silver Current Thoughts 5-18-2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: allocation, data, dip, Dollar, fed, investor, market, minutes, release, stock
The dollar above 94 on the index is giving gold a little pause today. This coupled with a record breaking stock market is currently causing gold to decide if it wants to break out higher or now. The big news this week will be Wednesday with the release of the Fed minutes. This typically brings volatility to the markets and …
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17
2015
In lieu of today’s Current Thoughts I have written an article for you on the blog. Understanding Where We Are Now with the Price of Gold and Silver
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14
2015
Gold and Silver Current Thoughts 5-14-2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: buy, Consumer Sentiment, crash, Currencies, Dollar, Gold, industrial production, manufacturing index
From the Trading Desk Yesterday, US retail sales figures disappointed and the USD index hit lows it hadn’t seen since February. With stops being triggered at the psychological level of $1,200, gold was able to explode upwards before making a high on the day at the 200 day moving average of $1,217.80. Weak US PPI figures this morning have provided …
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13
2015
Gold and Silver Current Thoughts 5-13-2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: CNBC, credibility, data, Dollar, fed, higher, lower, rates
Gold did exactly what we wanted it to do today as it not only broke above $1,200 resistance, but also $1,215 resistance to close at $1,218. Yesterday I also said I want to see the dollar break down below 94 and it gave us the added fuel to the gold bull. We also got a weaker than expected retail sales report …
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12
2015
From the Trading Desk At the end of April, gold was trading at $1,190 and silver was at $16… not too much has changed since then as these markets continue to bore traders and investors. US equities remain right near all-time highs and until there is a dramatic sell off, precious metals will find it difficult to move higher. Even …
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11
2015
The dollar is still hovering above 95 on the index, despite some up and down from that number. I still would look to it for an idea of where gold will go tomorrow as well as notice the mining stocks once again had a nice day despite the downturn in gold. I still want to see the dollar fall below …
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10
2015
Gold and Silver Current Thoughts 5-10-2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: bullish, data, Dollar, economic, europe, fed
We’ve got to get gold to move higher or lower and get out of this trend. Now that we have the Fed and some data to work with, I think we’ll get a move one way or the other and the dollar will lead the way. Another issues is whether the stock market will continue its move higher and put …
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