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Market Updates

War...What Is It Good For? Just Like the Song!

Gold is moving towards the averages. Now the game restarts fresh and just not sure what the game is yet.

Gold SWOT: Turkey sold or swapped nearly 70 tons of gold in the week to March 27

The transactions come as Turkey intensifies its defense of the lira amid the ongoing war with Iran. Turkey has been one of the world’s most aggressive buyers of gold over the past decade.

Technical Scoop: War costs, crude hike, surprise jobs, stock resistance, redemption rhyme, regulation relief, precious basing

Gold, silver and gold stocks also enjoyed a good up week. Kinross, for example, increased net earnings, record free cashflow, raised its dividend. They need more work to suggest that a low is in but the action was encouraging. The correction was steep but not unusual based on past history of gold bull markets. This week we get U.S. Q4 GDP final, PCE prices, CPI and Canada's March job numbers. And the war continues.

Metals: Marketplace on Edge: Trump Threatens Iran's Infrastructure

Gold's trend remains bullish on the monthly chart, the weekly chart under the 18-week moving average giving a bearish bias with no trend and not yet oversold.

The Vehement Volatility of Gold

To be sure, Gold’s days are vehemently volatile, indeed as are its weeks per the following year-over-year graphic.  The expected weekly trading range for Gold is now 369 points, the daily alone being 196 points.

Gold & Silver Rally During The Day, Then Selloff After Trump Threatens To Bomb Iran Into The Stone Ages

Trump said that he now plans to bomb the country back to the Stone Age. In response, the precious metals have dropped again.

Metal Market Moves Hinged on Trump's Speech Last Night

Ira Epstein covers the current state of the metal markets, focusing on gold's recent movements and potential future resistance levels.

HSBC: Gold Is Behaving Like a Risk Asset But Bullish Case Remains

HSBC analysts remain bullish in the longer term. "There remains a decent long-term investment case for gold, particularly amid ongoing global de-dollarization.” 

A Gold Market Trifecta

The bottom line is that a technical trifecta is in play.  The Dow, gold, and GDX are all hitting support with oscillators showcasing buy signals... at the same time. 

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