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Market Updates

Technical Scoop: Potential Stagflation, Commodity Friend, Gold Corrects

Stagflation is good for commodities but bad for the stock market. Gold's uptrend is intact unless we break under $2,300. Then we’d shift to a slightly deeper correction and for maybe a bit longer.

Gold Falters, Treads Water

Note gold's forecast high (2375) having been achieved and then some, followed a pullback. We added scaling space up toward 2600, just in case, (wink wink, nudge nudge…)

Gold Miners’ Q1’24 Preview

Gold’s remarkable breakout surge to dazzling new heights will fuel soaring mining profits, which are already on track to achieve big new records.

Metals: US Monthly PCE Index Data Will be Market Moving Number

So while the swing line has turned up the battleground is very clear. It's at the $2360 level; for me to get friendly, you need to close over it. So far it's a bear market rally because of the bias.

Metals: First Quarter Prelim GDP & Weekly Jobless Claims

The gold market has been over that 18-day average all this time. So it's had a heck of a run and it is now the correction phase that it's in. I didn't say a bear market phase.

Will Gold Prices Keep Rising in 2024?

The gold price had a bad day, falling by more than 2%. Whilst we may well see some additional pullback, we don’t expect this to be the end of the gold price rally. 

Gold Price Reaction: Key Zones To Buy

I suggest buying gold bullion at $2265, but for silver and gold stocks, the zone of focus is $2220-$2150.

Metal Markets Still in Corrective Mode but Seem to be Losing Downside Traction

So far for the week, the gold market is down 3.2%. If the market were totally fall out of bed, it could go back to the $2141 level. That's not what I'm expecting.

How the Dollar Reacts this Week Should Determine What Gold Does

Don't know if it'll last or not, but starting down 2.96% on the daily chart, you can see how much gold fell. So, the gold market today really got hit hard; higher high, lower low, it broke the uptrend.

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