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Market Updates

Metals: Hamas Lied!

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

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

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. 

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.

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.

Keep Your eye on Dollar Reaction to Jobs Data

We're in a bit of a correction. If there's no question, in my mind, at least the major trend is up. The market's working in stages on the downside temporarily; you've got a higher high, lower low pattern – that is not a trend.

Metals: Lot's of Economic Data Leading into FOMC

The market is marching down in price, at this point in time, the pattern was broken. You now have a higher high and lower low. Gold stepped out of an uptrend where the market had been fighting.

Gold Consolidation Triangle Rather Suggests Continuation of the Rally

Given the increasing reversal signals, the probabilities have risen that gold has reached the peak of its upward movement at USD 2,431 and is now already in correction back to the breakout level in the range around USD 2,100, with chance for a renewed rise at any time.

Metals: Much Small Economic Data Due Tues Leading up to FOMC Meeting

When I look at the gold this way, we still have higher lows and higher highs. The market has been unable to close over the 18-day average of closes.

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