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A flash update was emailed to subscribers minutes ago. We analyzed current sentiment in Gold and in gold equities and scanned history to find the best comparison to today with respect to US$ strength and the Fed starting a new rate hike cycle.
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A look at Gold’s upside targets and major downside support. We also analyze Gold’s latest CoT and provide thoughts on the effect of Fed rate hikes on the US$ index.
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Friday Mike Swanson and I discussed the recent developments in Gold & Gold stocks…
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A few weeks ago we warned that the gold miners were at risk of a technical breakdown. They struggled to rebound at support while Gold was breaking to a new low. Gold continued to decline but the miners held support and stabilized. Gold traded as low as $1045 on Thursday but the miners continued to … Continue reading
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The bear market in the gold miners has been one for the record books but it is not over yet. Last week we noted that precious metals were on the cusp of making new lows while the US$ index was very close to another key breakout. This scenario remains well in play and would certainly … Continue reading
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A look at Gold, Gold’s CoT report and gold miners (GDX) and juniors (GDXJ)….
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The US Dollar is just 1% away from a new high. Meanwhile, gold just made a new low for the current bear market. So what’s next for gold investors? Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication … Continue reading
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Last Friday we wrote that precious metals were very oversold and due for a bounce or a pause. We also argued that the overall prognosis remained very bearish. The technicals argue for more downside and sentiment indicators remain far from bearish extremes. The strength in the US$ index is another reason precious metals should remain … Continue reading
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The precious metals sector has declined sharply in recent weeks with no pause or intermittent breaks in the decline. Including today, Gold is down eight consecutive days and 16 of the past 18 days. The gold miners (GDX) have lost roughly 20% in the past seven days. The sector is extremely oversold in the short … Continue reading
