Market Updates

Gold Looks Great & Silver Is Superb

The miners? Well, as gold arrived at the $2400 area, I suggested a “pause with grace” was in order for the mining stocks, and that’s exactly what has transpired.

Metals: A Lot Depends on Israel Hamas Outcome

By Ira Epstein

The gold market is staying underneath the 18-day average of closes. In order for the market to turn bullish at least I need to see a close over the 18-day average of $2348.60.

The End of Objectivity in Market Analysis and Potentially the Bull Run, Too [S&P]

By Avi Gilburt, Elliott Wave Trader

With everyone blaming rising interest rates for the S&P dropping 1300+ points off the early 2022 market high, the market has now seen an almost 1800-point rally off that low to make new all-time highs despite those higher interest rates.

Gold SWOT: Gold Buying by Central Banks Just Posted Its Strongest Start to Any Year on Record

By Frank Holmes, U.S. Global Investors

Gold buying by central banks posted its strongest start to any year on record in 2024, helping drive overall demand for bullion higher in the first quarter.

Metals: Hamas Lied!

By Ira Epstein

Now you have a higher high and a lower low; gold ended that downtrend pattern. Now, the goal is, can the market get up to the 18-day average and what does it do there?

Technical Scoop: Inflation Stick, Commodity Fall, Bank Watch

By David Chapman, Enriched Investing

Gold continues to hold above $2,300. Further support can easily be seen, down to $2,240/$2,250. A breakdown under $2,200/$2,225 would be more problematic as we’d question the rally.

Own Gold with Reason into Bank Failure Season

By Mark Mead Baillie

Any “pro” worth his or her salt ought hardly be “confounded” by anything the S&P does, certainly so when it declines from these ridiculously overvalued levels. A true “pro” ought to expect significant (understatement) downside risk.

COT Gold, Silver & USDX Report - May 3, 2024

Positions as of 30 April, 2024

GoldSeek COT Fri, 05/03/2024 - 15:28

Gold’s Pullback and Miners

Gold’s pullback maturing will be a great mid-upleg buying opportunity for gold miners, so traders should be watching fundamentally-superior smaller ones.

Adam Hamilton Fri, 05/03/2024 - 14:00

Metals: Expect Lots of Volatility Off of US Jobs Report

When you look at the gold market, it's down about 1% for the week. That's not so bad on a weekly chart. It's still got this pattern where it came down and it stepped down on the chart.

Ira Epstein Fri, 05/03/2024 - 05:13

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Ira Epstein

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