I said in my last Current Thoughts that we will know later in the week if we have bottomed or not. Today might have been that day. The dollar was up once again and gold broke below 1220 but ended the day over 1220 to 1222 as I type with a rumor of another North Korean missile test coming soon. …
Read MoreCurrent Thoughts 5/7/2017
In my last Current Thoughts I mentioned that we could be close to a bottoming process in metals. Friday was a somewhat flat day but we are up +7.50 to 1233.20 now on Sunday and a good sign for gold bulls heading into Monday. Silver is up 18 cents to 16.42. The dollar was down to 98.42 and very close …
Read MoreCurrent Thoughts 5/4/2017
In yesterday’s Current Thoughts I posed the question “Is there one more leg down in gold.” we got that today and now we have two issues on our hand. The first issue is a bad one. If the Unemployment data comes in good tomorrow, it should push metals even lower. The second issues is a good one. The dollar broke …
Read MoreCurrent Thoughts 5/3/2017
The Fed announcement on interest rates came in as expected and the metals market and especially gold miners shot up quickly, but then the rug was pulled. With our Trading Service we were in JNUG pre-Fed at 16.50, rode it up with instructions to sell 1/2 shares at 5% gain. It went up 6.97%, Sold last half shares flat, so …
Read MoreCurrent Thoughts 5/2/2017
It’s a given no hike tomorrow. I want to know who believes their nonsense about a June hike “based on the data.” The market will make them look like fools I think. Sell the “non-event” news I think which means markets fall and gold rises with miners which are leading gold right now. 65% say rate hike in June ( …
Read MoreReverse splits today. You’re not waking up richer if in JNUG! 🙂 Darn Congress had to pass a spending bill that puts us in more debt and market likes it and gold doesn’t (for now). We have to be the dumbest people on earth. If you haven’t seen, this was from 2011. I wish they did this video every year …
Read MoreCurrent Thoughts 4/27/2017
We have gold trying to put up a fight right now and it is GDP data tomorrow that just might get it going. If the data is not good, then gold should begin flight higher again. Silver too. Either way by next week we should see a move higher. The only question in my mind is what will the dollar …
Read MoreCurrent Thoughts 4/20/2017
I will entitle this report; Watch Out Gold Bugs! – at least for the time being. We should have a little pullback in metals at the present time. The dollar bounced today off the lows and looks ripe to test 100 again. If it moves past 100 then it can go higher and we have one more pullback in gold …
Read MoreCurrent Thoughts 4/18/2017
Precious Metals and Mining Stocks This has been some of the most bizarre happenings I have seen in awhile with metals. The dollar falling hard should have got gold going but did not. It should have then maybe got JNUG or NUGT going but they were negative all day. JDST was the play but after the open we never got …
Read MoreCurrent Thoughts 4/17/2017
I think this run in metals may be finished for now. The real question to ponder is today we had the dollar move below 100 but it didn’t occur at the same time gold moved to 1293.40, just 6.60 from 1300. It is now 1283.50 and silver 18.46 after touching 18.68. The dollar went under 100 and is now 100.22. That …
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