From the Trading Desk Various headlines concerning geopolitical uncertainties have resulted in volatile price action for gold since Thursday of last week. The US’ surprise attack on a Syrian airbase last Thursday night gave gold immediate legs and allowed it to make 6 months highs. In response to the use of chemical weapons on civilians, US President Trump authorized a …
Read MoreApr
10
2017
Gold and especially silver took a move lower on Friday and continued lower today. We should see a little more weakness before we head higher again. I do think gold is on its way to $1,300 short term and silver to $19. From there we should be a little more in profit taking mode and have to check on the …
Read MoreApr
6
2017
Current Thoughts 4/6/2017
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: China, Dollar, Gold, North Korea, nuclear, struggle, Syria, Trump, War
Seems we are stuck in nowheresville right now with gold as it just can’t seem to get going much past 1250 and especially past 1260. Silver is stuck too. The main culprit is not just the lousy sales of gold and silver as posted earlier this week from the U.S. Mint, but rather a dollar that refuses to go under …
Read MoreApr
4
2017
Current Thoughts 4/4/2017
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: 2017, China, demand, down, Eagle, Gold, sales, u.s. mint
From the Trading Desk US Mint sales figures for the month of March confirm the dismal state of the fabricated gold and silver markets right now. The US Mint sold 21,000 toz of gold eagles (1 oz and fractional sizes) and 1,615,000 toz of 1 oz silver eagles this past month. This compares to 38,000 toz of gold eagles and …
Read MoreApr
3
2017
It was nice to see gold move above $1,250 again but it needs the dollar to cooperate and move below 100 if it is going to make that run to $1,300. The good news for gold and why I think a move up for now is in the cards is the fact that one of our suppliers actually ran out …
Read MoreMar
28
2017
From the Trading Desk Since the beginning of March, US equities have been on a steady decline but the selling pressure waned over the past two days. The Dow held its 50 day moving average yesterday and rallied 150 points today. The Dow’s losses over the past month eventually translated into increased risk appetite and safe haven buying for gold. …
Read MoreMar
27
2017
For quite awhile now I have said to watch the dollar for clues on what gold would do and we finally broke lower on Friday and today broke even further lower. Gold has responded positively and has finally closed and is staying well above the $1,250 mark. Silver has been leading gold up of late and is full on bull …
Read MoreMar
21
2017
Current Thoughts 3/21/2017
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: crash, crisis, deflationary credit contraction, price, resistance, Wall Street
The dollar couldn’t break through that 99.48 level and stay there today. It came close and we like that as gold bugs, but it may take a little bit longer to be convincingly lower. Gold is also up against the $1,250 resistance but should push through it very soon. Silver a bit of a laggard but also ready for a …
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19
2017
Current Thoughts 3/19/2017
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: increases, issues, market, PBOC, pension, Pension Benefit Guaranty Association, plans, rate, real, stock, wealth, Yellen
This is something to behold. A Fed Chairman that literally called GDP data “noisy.” I was so shocked that I had to stop the TV and get a snapshot of it. At the time, the dollar started to fall and guess what? It hasn’t stopped falling yet, dipping once already to under 100. For this reason, gold shot up higher …
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14
2017
Current Thoughts 3/14/2017
By: Doug Eberhardt
Category: Current Thoughts on Gold and Silver
Tags: buy, decision, fed, Gold, Interest rates, silver, trading
From the Trading Desk The markets, from equities to commodities, are quiet today ahead of tomorrow’s much anticipated FOMC statement. While it is widely expected that the Fed will increase the benchmark rate by .25%, participants are still sidelined today ahead of the decision. Volume in Comex April gold stands at only 155,000 lots so far today, the lightest it …
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