Janet Yellen may have done for the markets what Alan Greenspan did so many years ago; put a floor in it. We will find out tomorrow after the unemployment numbers come out. I feel we are at the cusp right now, and lean long the stock market and lower for gold overall, but the market seems to be data driven …
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6
2015
Gold and Silver Current Thoughts 5-06-2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: bounce, Buy Gold and Silver Safely, Greenspan, Illusions of Wealth, Irrational exuberance, market, stock, trend, Yellen
Gold was down early and never really did anything today. The mining stocks fared worse and some are starting to break down. Could be a sign. Interest rates are picking up and the dollar is falling with gold. Something has to give soon and until we break the $1,158 price in gold I have to lean long. But I don’t …
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5
2015
Gold and Silver Current Thoughts 5-05-2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: data, Gold, manufacturing, raising, rates, trade, Yellen
Gold had a nice move up today before the market even opened along with some bad trade data. Then the better than expected manufacturing data put a stop to any run it was having. The miners all ended up red after the news came out, but gold managed to stay green, as oil also rallied spurring talks of inflation. The …
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4
2015
I said in yesterday’s Current Thoughts that with the May month we could get a little bounce setting us up for a summer bounce. Today we got our first hint as to this becoming a reality. The dollar was a little higher and there was no real other reason for the bounce in gold, so I’ll chalk it up to patterns. …
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3
2015
Gold and Silver Current Thoughts 5-03-2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: bounce, data, Dollar, fed, Gold, low, November, unemployment rate, Yellen
Gold is sitting $20 from it’s 52 week low. When I wrote my Don’t Buy Gold Now, Wait Until It’s Under $1,000 article many people thought I was crazy. When gold breaks below that November 5th low of $1,158, we’ll see how quickly gold falls to under $1,000. I will then begin preparing my all-in article. I cannot tell you when I …
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30
2015
Gold and Silver Current Thoughts 4-30-2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: bullish, CNBC, data, Dollar, downside, fed, GDP, Gold, insight, silver, Unemployment
We got more of a shake up than gold bugs bargained for with the good unemployment report today. Gold fell quickly and before you knew it 2 hours later it was down over $30. Silver suffered the same type of decline. Gold still recovered slowly the rest of the afternoon, gaining close to $10 off the lows. Silver managed to …
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29
2015
Gold and Silver Current Thoughts 4-29-2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, dovish, ETF, fed, Gold, jnug, rates, silver, volatility
Gold received some good news this morning with the worse than expected GDP report but it really didn’t do much to help the physical metals. It did help the mining stocks though. But by the afternoon’s Fed announcement of keeping rates unchanged with no comments on raising rates, gold took the dovish news and fell a bit further and the …
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28
2015
From the Trading Desk Gold was trading lethargically yesterday when a 9,500 lot (950,000 ounces) sweep on the electronic exchange yanked it from $1,186 all the way up to $1,200 in a matter of minutes. This occurred right around the time of the PM fix and it was a much needed bullish move after the poor close gold had to …
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27
2015
Gold and Silver Current Thoughts 4-27-2015
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: Dollar, fed, GDP, Gold, jnug, long, price
It looks like we got a jump start on the May and summer good months I spoke about in yesterday’s Current Thoughts. We also got some volatility that I put in capital letters to expect with the Fed meeting and announcement coming this week. Gold did get past the $1,200 resistance but hit the wall at the $1,208 resistance. I …
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26
2015
I will say right now, unequivocally, this is going to be a crazy week for not just gold and silver, but for the markets in general. As with most Fed meeting weeks, we see market makers push both sides of trades and push investors out of positions. Holders of physical metals aren’t pushed out of positions like traders are and …
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