Watching this market daily can be mind-numbing, as the S&P 500 Index (SPX) trudges higher little by little. I'm not complaining, though, if it's profitable. In fact, at no point in 2017 has the index traded below its 2016 close. In the analysis below, I'll take a deeper look into that stat, and then I'll find years similar to 2017 to see how the SPX performed going forward.What The 2017 Stock Mark...Read More
The number of S&P 500 companies reporting negative earnings is rising rapidly.Why does this matter?It matters because this usually signals right before a stock market peak.Below is a chart illustrating the percentage of S&P 500 companies reporting negative earnings running back to 1999.As you can see, we are now at levels that have usually occurred just before stock market peaks (the last two time...Read More
In what should come as no surprise to anyone around here, the banks are once again creating as much paper metal as necessary to stall an advance in price. Already twice this year we've seen this happen in Comex Digital Silver and now the banks are working their alchemic magic in Comex Digital Gold, too.Frankly, I'm not even sure why I'm taking the time to write about this. You know the drill. You...Read More
The cofounders of Seabridge Gold discuss the significance of gold breaching its downward sloping trend line.Yesterday, gold broke a nearly six year-long downward sloping trend line that goes back to its all-time high of $1921 in August of 2011. Gold has not managed to cross above this trend line, currently at around $1280, since then, although it has come close a number of times including as recen...Read More
In the previous edition of the Market Overview we wrote that "geopolitical risks clearly won with a hawkish Fed in a tug of war in the gold market" at the turn of March and April, as the yellow metal gained about 7 percent from mid-March to mid-April. However, the price of gold declined about 4.8 percent until May 9 when it started its rebound. As the chart below shows, at the beginning of July, t...Read More
Tuesday's feisty rally exceeded the 1296.40 rally target we'd been using by a relatively modest $2.40, but because the pattern associated with the target is so clear, even as small an overshoot as occurred will have bullish implications going forward. Accordingly, I'll suggest using the pattern shown (see inset), with a 1314.50 target that should be familiar to you. It is a logical minimum upside...Read More
The number of S&P500 companies reporting negative earnings is rising rapidly.Why does this matter?It matters because this usually signals right before a stock market peak.Below is a chart illustrating the percentage of S&P 500 companies reporting negative earnings running back to 1999.As you can see, we are now at levels that have usually occurred just before stock market peaks (the last two times...Read More
Conventional wisdom states the following: When the Fed raises interest rates, the USD will strengthen and demand for dollar-denominated commodities such as gold will decline. This is true (theoretically speaking) because gold is a non-interest-bearing commodity that cannot compete with fixed-interest-bearing securities. Additionally, a strengthening USD means that foreign buyers of gold will be re...Read More
- Gold prices break 6 year down trend on safe haven demand (see charts)- Chinese gold demand set to surge 50% to 1,000 metric tonnes- Chinese demand for gold bars on track to surge more than 60 percent in 2017- Geopolitical risk internationally leading to safe haven demand- UK election, terrorism and rising tensions in Middle East supporting gold after attacks in London and attacks in Iran today-...Read More
USDJPYUSDJPY 30 min:USDJPY 4 hr:The price declined again today as called for by last night's wave count. The target at 10940 was met, todays low so far reached 109.22. The declining trend channel suggests one more decline to meet the line once more. That could happen at about 108.70 at which point the price would be perilously close to the lower invalidation line at 108.127.At the moment we have a...Read More
By: Rudi Fronk and Jim Anthony Rudi Fronk and Jim Anthony, the cofounders of Seabridge Gold, discuss the significance of gold breaching its downward sloping trend line.Today, gold broke a nearly six year-long downward sloping trend line that goes back to its all-time high of $1921 in August of 2011. Gold has not managed to cross above this trend line, currently at around $1280, since then, alth...Read More
By Craig HemkeIn what should come as no surprise to anyone around here, The Banks are once again creating as much paper metal as necessary to stall an advance in price. Already twice this year we've seen this happen in Comex Digital Silver and now The Banks are working their alchemic magic in Comex Digital Gold, too.Frankly, I'm not even sure why I'm taking the time to write about this. You kno...Read More
By: Arkadiusz Sieron In the previous edition of the Market Overview we wrote that "geopolitical risks clearly won with a hawkish Fed in a tug of war in the gold market" at the turn of March and April, as the yellow metal gained about 7 percent from mid-March to mid-April. However, the price of gold declined about 4.8 percent until May 9 when it started its rebound. As the chart below shows, at...Read More
By Frank HolmesWith the U.S. dollar taking another hit last Friday on a weaker-than-expected jobs report, gold closed up 1.12 percent for the day today. A Bloomberg gauge of 72 junior miners, however, has lost 15 percent since the end of January, and the rebalance of the VanEck Vectors Junior Gold Miner ETF (GDXJ), which I previously wrote about, is also having a depressing effect on many gold n...Read More
Tuesday's feisty rally exceeded the 1296.40 rally target we'd been using by a relatively modest $2.40, but because the pattern associated with the target is so clear, even as small an overshoot as occurred will have bullish implications going forward. Accordingly, I'll suggest using the pattern shown (see inset), with a 1314.50 target that should be familiar to you. It is a logical minimum upsid...Read More
- Gold prices break 6 year down trend on safe haven demand (see charts)- Chinese gold demand set to surge 50% to 1,000 metric tonnes- Chinese demand for gold bars on track to surge more than 60 percent in 2017- Geopolitical risk internationally leading to safe haven demand- UK election, terrorism and rising tensions in Middle East supporting gold after attacks in London and attacks in Iran toda...Read More
Gold Today -New York closed at $1,293.80 yesterday after closing at $1,279.60 Monday. London opened at $1,292.65 today. Overall the dollar was slightly weaker against global currencies, early today. Before London's opening: - The $: EUR was slightly weaker at $1.1254 after yesterday's $1.1246: EUR1.- The Dollar index was slightly weaker at 96.68 afte...Read More
It seems all terror attacks in democratic nations happen before an election. I rarely find any terrorist attack after an election. I am confident that once UK and German elections are over, Europe will not see terror attacks for quite a long time. In Europe or the UK all terrorists were known to the law enforcement agencies and still they slept. It is very easy to radicalize anyone these days. G...Read More
Full Article: SWOT Analysis: Trump Probes Boost Gold's Safe-Haven DemandBy: Frank HolmesStrengthsThe best performing precious metal for the week was palladium, up 6.17 percent. Consumer demand is rising for gasoline- versus diesel-engine powered vehicles, yet automobile sales have started to relax in recent months. According to Bloomberg, gold bulls outnumber gold bears this week as Trump probe...Read More
Full Article: If You Want To Get Rich, Own Gold - Rich Dad, Poor Dad's KiyosakiBy: Daniela Cambone(Kitco News) - Gold is a wealth attractor, this according to Robert Kiyosaki, the best-selling author of Rich Dad, Poor Dad, who uses the metal to boost his net worth."If I want $10,000 a month, I hold $10,000 in gold; gold is an attractor and people need to understand that if you buy more gold, your...Read More