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Market Updates

Gold SWOT: The Sharp Rise in Gold Prices This Year Could Provide a Nice Bump to Miners’ Earnings

Assuming bullion prices hold through the end of June, the rise in gold prices could provide a nice bump to miner earnings starting in the current quarter.

Technical Scoop: Topping Signs, Material Rise, Defensive Energy

Gold rising despite rising long interest rates and a rising US$ Index is interesting, as it appears to indicate a shift in sentiment. Yes, we have the fear trade, but we also have inflation eroding all fiat currencies.

Gold Fit to Pull Back a Bit

Silver now leads the year-to-date percentage tracks at +19.6%, followed by Oil +16.7% and then closely by Gold +16.2%.  The S&P’s once-inane gain has now fizzled to just +4.1%.

Gold's Remarkable Breakout

Gold’s breakout to many new records wasn’t fueled by normal sources, but mostly from central banks and Chinese investors. This powerful upleg looks far from over.

No Major US Economic Data Due

It's up here pushing, as you can see, on a closing basis: $2378, not the highest high but a closing basis high. I said that we're in a distribution pattern.

Test in Store for Key Support in Gold

Gold is still up 0.66%, $15.5 for the week. When we look at the daily bar chart, we're in a distribution area again. It still has the pattern of higher lows that have been in place but suddenly you have a high here and a peak here, it has a lower high.

Metals: Geopolitics, if Iran Attacks Israel or Not Will be Market Mover

Gold got up to $2429 and then gave that up, but forget that. The trend is up still – there's nothing here that isn't up higher lows, higher highs. You're well over the 18-week average of closes, which by the way, is moving to the tune each week of about $20. 

Gold SWOT: Gold Continues to Set New Record Highs

Bigger players have been moving into gold. Now that it is setting new all-time highs, this could spur retail buying if the tide shifts.

Metals: Israel's Military Issues Threat to Iran

Until the recent low is taken out of $2340.20, I think that is the line in the sand now for the bulls and they're going to try to push on the market if they can.

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