Media

Vince Lanci of GoldFix on Substack and Echo Bay Futures joins us to recap recent developments in the Gold market.

Interest Payments on the Debt Hit $1 Trillion. As a percentage of federal income and federal spending, it is closing in on all-time highs. This could matter for Gold and markets when it exceeds the 1940s and 1990s peaks or when the bond market takes another leg lower and the 10-year yield hits or surpasses … Continue reading

Gold Miners are definitely cheap as multiple valuation metrics are at historically low levels. When viewing a history of valuations going back as far as the 1980s we find current valuations indicating a secular bear market. Valuation indicators last peaked around 2003-2006. There is a difference between price and value. Cheap refers to price and … Continue reading

It was another bad week for precious metals as Gold declined 1%, Silver over 2% and the miners lost over 6%. The S&P 500 closed the week at a new record high. The Gold to S&P 500 ratio closed the week at a new 17-month low. Click Here to Learn About TheDailyGold Premium

A steepening in the yield curve to above 0 and in a vertical fashion indicates an imminent recession. The yield curve has steepened to -0.17 and flashing yellow. If the steepening continues and accelerates, then it would be code red and super bullish for Gold.

Gold enters the week at $2052. It has support at $2020 and $2000. Gold is trading at the midpoint of its range and has already tested resistance at $2100. Meanwhile, Silver has not come close to testing its previous high and is trading at the low end of its range.

There is no cup and handle pattern in Silver (although there is super bullish potential if it approaches $50), nor is there a bull flag and we have to stop drawing diagonal resistance from the 2011 peak.  

It was a quiet week for Gold, Silver and the miners. Resistance remains at $2100 for Gold, while Silver remains well below $26. The miners lost 4%-5% on the week.

We cover the yearly, quarterly, monthly and weekly candle charts for Gold. Gold closed the year and quarter in strong fashion, but it needs to break $2100 to generate further momentum to the upside. Click Here to Learn About TheDailyGold Premium

The technical setup for gold and silver stocks is bullish as 2024 beckons. Putting macro aside, we focus on the price action for GDX and GDXJ as well as the breadth indicators for GDX and highlight a few comparisons. Click Here to Learn About TheDailyGold Premium