Gold tried to push past the $1,200 round number resistance this morning but just couldn’t do it. Silver also struggled with the round number of $17 but did manage to sneak above it for a bit to $17.11 before closing under at $16.95. The miners didn’t like what gold and silver were doing and retreated from the highs the entire …
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24
2015
From the Trading Desk Since the Federal Open Market Committee meeting last Wednesday, gold has traded higher for five consecutive sessions. With a strong weekly close on Friday, it finished out the week trading above double top resistance at $1,175. Its ascent has continued so far this week with the psychological level of $1,200 as the next near term target to …
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23
2015
Gold and silver continued their merry march higher today as the dollar is under pressure again, falling below 97. The mining ETFs did quite well yet again. For my favorite JNUG, whether you got in today at 21.39, yesterday at 20.45 or a few days ago at 17.94 this has been a good run so far with 25 possibly being …
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22
2015
After a great week last week for gold and silver, will the trend higher in metals continue this week? If trading in Europe provides us with any clue, then the answer is mixed with not much action so far. Gold and silver had another good day Friday to continue Wednesday’s strong signal of short term trend. Silver was actually more …
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19
2015
From the Trading Desk Yesterday’s Federal Open Market Committee release had, yet again, confusing dichotomous language which left market participants unclear on the intended monetary path going forward. On one hand, the Fed finally removed from the statement a promise that they would be “patient” and said they would consider raising the benchmark rate as early as June. If this …
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18
2015
I have to say that the title of my last article from yesterday fit the action in the “Data is Dead; All Hail the Fed!” I followed that up with the questions; What Does this Data Tell Us? Does the Market Care? The market ignored the data and we actually heard Janet Yellen say the Fed won’t raise rates in April, …
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17
2015
If you haven’t read it already, I posted an article to the site today called; Data is Dead; All Hail the Fed! It is an insightful look into the data we have had the last month and what impact it should have on the Fed’s decision tomorrow. From the Trading Desk The US dollar index hit a 12 year high this week …
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16
2015
There really wasn’t much action at all in gold and silver today. A little dip to test the $1,150 mark in gold and silver the $15.50 mark. The miners were still acting weak with JNUG down 4.59%, and GDXJ down 1.43% but NUGT was up .43% and GDX up .22%. It seems they are still trying to put in a …
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15
2015
Gold is now down 4.9% in its last 9 trading days as the dollar has hit a 12 year high against the euro. I like the charts for gold and silver that Michael Noonan has provided as to where we are for gold and silver. A short term rally may be in the works, but it should be noted that …
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12
2015
From the Trading Desk Gold sold off yet again yesterday with the USD index making highs it has not touched since the spring of 2003. The euro is almost at parity with the USD, trading at under 1.05 earlier in the trading session today… start planning your summer trips to Europe now! Besides today’s session, where gold barely closed above …
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