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Gold and silver took another hit today as the dollar moved ever higher approaching the 100 mark on the index. The Euro sunk to the 105 region and is ever closer to parity with the dollar. Many may not know I have been dollar bullish for quite some time and have said during this time that we may get some …

From the Trading Desk Gold had a dismal previous week, trading lower for five consecutive days with the worst performance of the week coming on Friday.  Strong US jobs data figures on Friday propelled the USD higher which caused investors to liquidate precious metals positions.  US nonfarm payrolls rose by 295,000 in February, easily beating the consensus estimate of 235,000.  …

Gold and silver popped up overnight but headed down ever since in U.S. trading. JDST again was the star and closed up 15.68% to close at 14.46. Meanwhile, the mining ETFs are getting hammered even with gold closing a little positive today. Many of the miners I follow have broken down which if you have been reading about why I …

As you know I have been calling for lower prices in the metals for some time and we finally broke below the $1,190 resistance on Friday and gold closed at $1,166.30. In Asia gold has opened up $1.60 to $1,167.90. Silver broke down as well below $16 resistance and it presently trading at $15.85. In Thursday’s Current Thoughts I said …

From the Trading Desk The USD continues its ascent higher and the euro has fallen to an eleven year low, dipping under 1.10 earlier in today’s trading session.  Positive US economic data yesterday encouraged euro shorts to add to positions.  ADP private nonfarm payrolls rose by 212,000 for February after an increase of 250,000 for January.  The 212,000 was slightly …

In yesterday’s Current Thoughts I said I like JDST and today it didn’t let us down. JDST ended up over 7% higher from yesterday’s close and anyone could have played it this morning for a nice trade. Gold moved down from the open then steadied and rose towards the close and is presently over $1,200 again. I would move stops …

From the Trading Desk Gold had been working its way higher for about a week but found steady offers for three consecutive days around the $1,220 area.  The failure to break through this level encouraged fresh shorts to enter the market, propelling it lower over the past two trading days.  Gold shorts were also encouraged to add to positions on …

Gold and silver spiked up overseas and spent the rest of the day falling in the U.S. Yellen speaks again tomorrow so expect some more volatility either way based on what she says. Gold presently is at $1,207.30 in after-hours trading down 90 cents. Silver is down 2 cents to $16.43 in after-hours trading. JDST was the star in the …

China lowered rates over the weekend fighting their own slump and many thought gold would take off higher because of this, but is flat in Asian trading that just began at the $1,214 range and silver up 2 cents to $16.61. JNUG has slowly moved higher from the Feb. 23 low of 26. It hit resistance approaching its Feb. 18th closing high …

From the Trading Desk Overnight data showed that net gold imports from Hong Kong to China jumped from a three month low in December of 71.4 tons up to 76.1 tons in January. This is a common occurrence in January as demand increases ahead of the Lunar New Year and the release of the data last night gave gold an …