When the Fed entices grown up kidswith sweet words, they hit the candy store and stock up on gold, silver, andstocks. A sugar hangover follows.Beware of the candyman!With Fed Chairman Jerome Powellperforming his usual dovish dance on Aug. 27, gold, silver, and mining stockswere like kids in a candy store. However, with the short-term sugar highs oftenleaving investors with nasty stomach aches, the...Read More

I’ve been suggesting for some time now that the PM complex is trading at a critical inflection point where they can have a big move in either direction. It may sound like a copout but that is what an inflection point is. Many times at a critical inflection point, in the  case of the PM stock indexes, support can hold beautifully or there can be a false breakout of the the S&R line w...Read More

There are many factors affecting goldprices on a daily basis, but… how can GameStop stock be one of them?Given today’s pre-market slide in gold,it seems that the triangle-vertex-based turning point worked once again.Declines are likely next.In yesterday’sanalysis, I explained why the situation remains very similar to whathappened in 2013, and that remains up-to-date. On top of t...Read More

Friday the 13th of August 1971 wasa very important date in U.S. history. It was the date that set the table forthe beginning of the end of the USD's world reserve currency status. And,greatly expedited the road to perdition for the dollar's purchasing power.That means this past Friday was the 50-yearanniversary of President Nixon's absolute termination of the dollar's abilityto be redeemed for gol...Read More

With its negative correlation to themetals, the USDX rally weighed heavily on gold, silver and stocks. Stop and think: what would be if it continued?While the overwhelming majority ofinvestors entered 2021 with a bearish outlook for the U.S. dollar, our optimismhas proved quite prescient. The USDX bottomed at the beginning of the year.With the USD Index hitting a new 2021high last week – com...Read More

Gold prices are slipping as talk of a “taper tantrum” has investors thinking that the US Federal Reserve’s bond-buying program could be scaled back.Over the last three days spot gold has dropped $18, peak to trough, on news of US jobless claims falling sharply to 348,000, and the US dollar scaling over a nine-month peak. The dollar’s rise makes gold expensive for holders of...Read More

The rise and fall of gold stocks is a story of hurt and disappointment. That is because most of the time gold stocks are in decline.Below are four charts which depict the sad story. Following each chart I will make some brief comments… HUI – 1 Year ChartNYSE Arca Gold BUGS Index (INDEX)The HUI is back to its low reached earlier this year in March, at just under 255. Where it goes fr...Read More

Ladies and gentlemen, we have abreakdown! Gold stocks underperformed the yellow metal so much that theyreached the lowest levels seen this year…The HUI Index (goldstocks) broke to new 2021 lows while the USD Index broke to new 2021 highs.Just as I’ve been warning you.Mining stocks’ extremeweakness relative to gold continued yesterday, and while it may seem likethe weakness has t...Read More

Technical analyst Clive Maund charts silver and explains why he believes the metal is in the “perfect” buy spot. Silver is now regarded as the best value hard asset around, and it really doesn’t matter in the long-term whether J. P. Morgan and the other banks try to suppress the price or not. Like gold, it has intrinsic value and, in the situation of high inflation that we are mo...Read More

Inflation softened slightly in July and gold prices rose, but the bullish joy may be premature. How should we respond?Inflation eased a bit in July, but it remained disturbingly high. According to the latest BLS report on inflation, the CPI increased 0.5% in July after rising 0.9% in June. The core CPI, which excludes food and energy, also softened, as it rose 0.3% in July after increasing 0.9% in...Read More

What do the portents say? Well, we’vebeen looking for connections between gold and bitcoin, and we see a chance tofatten the coffers. Read on.But first, let’s talk about gold and theminers. Yesterday’s session provided us with a perfect confirmation of thebearish case in the precious metals sector for the short term.The reason is that what happened wasbearish in two ways:Nothing...Read More

The US economy added almost 1 million jobs in July, building solid ground for tapering. Meanwhile, the PMs’ sandy foundations crumbled spectacularly.Another blow to gold! July’s nonfarm payrolls came in strong. As the chart below shows, the US labor market added 943,000 jobs last month, following 938,000 additions in June (after an upward revision). More than one-third of all gains occ...Read More

Another day, another decline in juniorminers – and another increase in profits from short positions in them.Shouldn’t we expect a rebound though?Well, no. The rebound already happened inlate July and early August, and what we see now is the trend being resumed.Consequently, even if it wasn’t for all the long-term analogies to the2012-2013 declines in gold and goldstocks (HUI Inde...Read More

Overnight, on Sunday and early Monday, Precious Metals and Oil started a fairly big collapse which quickly bottomed and recovered – at least in the Precious Metals markets.  Crude Oil is still moving lower in early trading on Monday, August 9, 2021.  Can we learn anything from the pre-COVID market trends and extrapolate any real-world analysis from this?Precious Metals “Mini...Read More

The precious metals futures markets launched shortly after Richard Nixon closed the gold window and removed the last vestige of gold backing from the Federal Reserve Note. Officials introduced paper gold and silver contracts specifically to increase price volatility and discourage physical ownership of metals.After nearly 50 years, it is safe to say their strategy was a success.It is often excruci...Read More

Again, today’s report will be way shorter than usual, andfocus only on select charts so as to drive position details of all the fivepublications. Let‘s move right into the charts (all courtesy of www.stockcharts.com). S&P 500 and Nasdaq Outlook The tightly tracking each other indices – S&P 500 andNasdaq – are likely to part ways to a degree soon. As Treasury yields...Read More

The US economy added over 900,000 jobs in July, the most in 11 months and well above the market expectations. Part of the reason is the rapid pace of the COVID-19 vaccinations allowing the country to continue to re-open and promote businesses to hire more workers. This action has driven down the US Unemployment Rate to 5.40%, the lowest level since March 2020.In response to the bullish employment...Read More

Here are five Fastmarkets stories you might have missed on Friday September 3 that are worth another look.South American flat-rolled steel import prices decreased during the week ended Friday September 3, with material from countries other than China dominating the market and ahead of November-shipment negotiations.The global aluminium industry...Read More

Total nonfarm payroll employment rose by 235,000 in August, well below reported expectations of 720,000, dimming the likelihood of stimulus tapering.Gold has risen to almost US$1,830 an ounce on the spot market.There were mixed moves among base metals on the London Metal Exchange on Friday.Nickel rose 1.6%, taking it close to the $20,000 mark at $19,829.25 per tonne.In Australia, Alumina added 6.6...Read More

Here are five Fastmarkets stories you might have missed on Friday September 3 that are worth another look.South American flat-rolled steel import prices decreased during the week ended Friday September 3, with material from countries other than China dominating the market and ahead of November-shipment negotiations.The global aluminium industry...Read More