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Market Updates

COT Gold, Silver & USDX Report - September 29, 2023

Positions as of Tuesday, September 26, 2023

GDX’s Chronic Undervaluation

Because gold-mining earnings amplify gold price trends, gold stocks are effectively leveraged plays on gold. So their price levels relative to gold’s are a great valuation proxy.

Rally Time For Stocks and Gold?

The gold stock summer doldrums are horrible, but I've predicted it could end by the end of summer. Volume is up!

Liquidity Sloshing Around From Sector to Sector

Although the gold's correction has been mild, because it's gone on for so long, sentiment has become bearish. When gold is done consolidating, it will break out above all-time highs. 

No Budget Impacts Dollar, Which Impacts Metals

When the market is under the 18-day average of closes, I have a natural bearish bias. There is little to hold up the gold market right now. The dollar is strong.

Copper Tumbles on Negative Chinese News

As I look at the gold market, the trend is down. You're staying under the 18-day average, therefore the bias is down. The market fell to the lower Bollinger Band.

The 'Mini-Crash' We Called Last Week Is Here, Now What?
If we see the market break through resistance of 4360-4401SPX, that's a strong signal that the low is in place, and a rally to 4800SPX has likely begun.
Avi Gilburt Tue, 09/26/2023 - 13:22
A Blowoff for Rates and a Surge for Gold
Gold soared in the 1970s as rates soared, because inflation was the major theme… and it’s becoming a major theme again today.
Stewart Thomson Tue, 09/26/2023 - 13:15

Gold SWOT: Silver Lake Resources has purchased an 11% stake in RED5

According to an RBC report titled “You Could Hear a Pin Drop,” the gold mining industry’s largest conference was hosted by the Denver Gold Group in Colorado Springs.

Is Gold Getting Close to Reversing its Downtrend?

When we look at the gold market, as long as it stays over on a monthly basis the 18-week moving average of closes, I have a bullish bias.

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