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Market Updates

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.

Gold SWOT: Silver Has Caught up and Outperformed Gold by 10% Since Mid-February

Gold’s ascent rests in no small part on central bank buying, especially from Asia and other emerging markets, writes Bloomberg. This demand is likely to continue throughout 2024.

Made Millions Selling Too Soon

Gold declines may be underway following an intermediate top. We will buy on pull backs, but it's too difficult to predict the top at this point. Don't try to catch every penny with trades.

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