Failure of Obamacare Repeal Helps Push Gold Higher, But $1,250 Resistance Holds

Republicans were forced to pull their bill to replace Obamacare from the floor of the GOP-controlled House today, lacking sufficient support. This has helped to push gold higher, but technical resistance has held thus far. Gold has been in rally mode lately after a v-shaped correction and recovery during the month of March. In the first [...]

Gold Pressured By Increasing Odds of March FED Rate Hike

The gold price has corrected by roughly $25 over the past few days. This pullback has been driven by increased odds of a Fed rate hike during March. Federal Reserve officials have been making hawkish comments lately, which has been supportive of the USD index and thus bearish for precious metals. After hitting a 2017 [...]

By | 2017-03-23T14:06:46+00:00 March 1st, 2017|Gold & Silver Commentary, Gold Technicals|

Gold Rallies, Dollar Drops as Trump Says U.S. Currency is ‘Too Strong’

Did Trump just signal the death of Clinton-era strong dollar policy? The dollar weakened after president-elect Trump called the U.S. currency “too strong” and the pound rallied on British Prime Minister Theresa May’s plans to leave the European Union. This news sent the gold price higher Tuesday morning, climbing back above key psychological resistance at [...]

By | 2017-03-23T14:06:46+00:00 January 17th, 2017|Gold & Silver Commentary, Gold Technicals|

Commercial Traders Continue To Pare Back Short Positions in Gold

The price of gold has begun 2017 on more solid footing, posting a 1.9% gain in the first trading week of the new year. The bears came out of the woodwork this weekend to warn us that last week's move was simply an oversold bounce. They cheered on the slight pullback in gold prices Friday, [...]

By | 2017-03-23T14:06:46+00:00 January 9th, 2017|Gold & Silver Commentary, Gold Technicals|

Gold Surges Above $1,150, Mining Stocks Rocket Higher, Time to Buy the Dip?

The gold price is showing strength heading into the close of 2016. The gold price has advanced for five straight days and is back above $1,150. The price put in a double bottom around $1,125 during December and the recent really suggests this may have been the bottom. After taking out $1,150, the gold price [...]

By | 2017-03-23T14:06:46+00:00 December 29th, 2016|Gold & Silver Commentary, Gold Technicals|

Gold Below $1,250 is a ‘Strategic Buying Opportunity’

Today's employment report was slightly weaker-than-expected, initially causing the dollar to drop and gold to rally.  Only 156k jobs were added versus estimates of 175k. The unemployment rate ticked up to 5.0% during September. While the participation rate increased, the true story is that all of the job creation was part-time jobs in the service [...]

By | 2017-03-23T14:06:47+00:00 October 7th, 2016|Gold & Silver Commentary, Gold Technicals|

Gold and Silver Prices Volatile on Opposing Views from FED Members

The FED has made the booms and busts much more exaggerated than they otherwise would be. Their ability to unilaterally dictate interest rates rather than allow the free markets to determine equilibrium, has generated an incredible amount of volatility for investors. Gold and silver have enjoyed a powerful rally in 2016, which started right after [...]

By | 2017-03-23T14:06:47+00:00 September 13th, 2016|Gold & Silver Commentary, Gold Technicals|

Week In Review: Gold Bounces on Soft Jobs Report

This week was a decisive time in the markets. It was the first big data month since the Fed's ill-guided interest rate hike. Investors are now considering which way stocks will move next and whether or not the gold pullback is over. On the domestic data front, the nonfarm payroll jobs number missed horribly (posted 160,000; expected 200,000-215,000). [...]

By | 2017-03-23T14:06:13+00:00 May 6th, 2016|ETF Corner, Gold & Silver Commentary, Gold Technicals|

The Plaza Accord, The Shanghai Accord, and Gold’s Future

The year was 1985 and the global economy was only 14 years into the new monetary regime of free floating currencies (even contrary to the hundreds of centuries littered with failures of never working in longer terms). After abandoning the gold standard in 1971, the U.S. endured a destructive decade of stagflation (high inflation coupled with high [...]

By | 2017-03-23T14:06:13+00:00 May 5th, 2016|Gold & Silver Commentary, Gold Technicals|

Gold Falls Through Key Technical Support, Must Hold Above $1,072

It has been a rough few weeks for gold investors, as the price has experienced a waterfall decline of over $100. First, the price dropped through key support at both the 200-day and 100-day moving averages. Then it proceeded to violate the uptrend (green line) that has been in place since July and support at the September low [...]

By | 2017-03-23T14:06:14+00:00 November 9th, 2015|Gold & Silver Commentary, Gold Technicals|