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By: Ira Epstein - 21 November, 2019

Gold has not yet established an uptrend, working off the oversold condition. Gold not trending one way or another yet..

Video Update Full Story

By: Gary Savage - 20 November, 2019

The bullion banks have been able to take gold down at will, dumping gold contracts usually in the pre-markets..

Video Update Full Story

By: Stewart Thomson, Graceland Updates - 20 November, 2019

- My base scenario for 2020 is that the US economy muddles along, Trump doesn’t launch any more significant tariff taxes, and the Fed is likely to step in and keep the stock market boats afloat if they start sinking again.

- My base scenario sees gold and related items again outperform all other major asset classes in 2020, but with the bull wedge pattern on the weekly chart becoming more of a gentle reactive drift.

- I give that scenario 70% odds, leaving a 30% chance that in three weeks Trump hikes tariffs, Powell does nothing, the stock market crashes, and gold stages a vertical blast towards $1900. Full Story

By: Ira Epstein - 20 November, 2019

Gold formally ended a downtrend phase. $1,456.60 is swingline support short-term..

Video Update Full Story

By: Frank Holmes, US Funds - 19 November, 2019

A couple of weeks ago, I was in Lima, Peru, attending the Mining & Investment Latin America Summit. I heard from a number of industry leaders that mining in South America has become more challenging in recent years. One of the biggest reasons why is that the burden for taking care of local communities has, in many cases, fallen on the miners’ shoulders. Venezuela’s corrupt socialist president Nicolas Maduro continues to destabilize and finance radicalism throughout the continent using revenue from narcotics, and mining companies often end up having to pay the price.

Chilean lawmakers, for instance, are considering a new tax on mining and mineral extraction to address the country’s social unrest I described earlier.

As you can imagine, this could discourage speculation in the junior mining area.. Full Story

By: Ira Epstein - 19 November, 2019

Gold looking at $1,485 area as the next big test, possibly over the coming day(s). Coming from an oversold condition..

Video Update Full Story

By: Ed Steer - 18 November, 2019

The gold price was under quiet but extremely erratic selling pressure in Far East trading on the their Friday -- and the low tick of the day, such as it was, came around 9:15 a.m. in London. It crept quietly and unevenly higher until the 11 a.m. London close -- and at that juncture 'da boyz' in New York would not allow it to go any higher -- and it traded very unevenly sideways until the market closed at 5:00 p.m. EST.

The high and low ticks certainly aren't worth looking up.

Gold was closed on Friday afternoon in New York at $1,467.90 spot, down $3.30 on the day. Net volume was pretty quiet at just under 212,500 contracts -- and there was 39,500 contracts worth of roll-over/switch volume out of December and into future months. Full Story

By: Frank Holmes, US Funds - 18 November, 2019

Gold prices are down from recent highs, but that doesn’t mean investors are giving up. Open interest is still rising, showing that lower prices are driven by new short-sellers rather than by long investors liquidating. Another potential catalyst for the yellow metal is President Donald Trump pushing the Federal Reserve to deploy negative interest rates, which are positive for gold.
Full Story

By: David Chapman - 18 November, 2019

The suspense continues. US stock markets continue their record run but also continue to bump up against the top of a potential broadening channel. So we could still fail here. Or we bust right through. The third scenario is a pullback, regroup then bust through on a record run.

Despite signs of global slowing we have a president who wants the economy growing, the stock market rising and a trade deal with China before the 2020 election. A year is a long time in politics and markets. A lot can happen. Recession spreads are positive again after a period of being negative. But in past experience it was the recession spread turning positive again
following a period of being negative that brought a recession closer to fruition. Gold rose as the U.S. dollar faltered. Is gold's correction over?

Our chart of the week looks at derivatives, what they are and how much is really at risk.

With stock markets poised to breakout to the upside what will it be? Burst through or falter? Full Story

By: Dave Kranzler - 18 November, 2019

On November 4 authorization for traders on the New York Commodities Exchange to use "London gold" and Comex gold warrants as collateral was tripled, raised from $250 million to $750 million. HSBC now has used $340 million, or 45.3 percent, of its new collateral limit. It seems more than coincidental that HSBC took advantage of the collateral increase so soon after it was put into effect.

I see the rule change as a low-grade bailout of HSBC, analogous to the Fed's low grade bailout of the big banks with the "repo" "quantitative easing." The rule change also flags HSBC as the largest trader in the commitment-of-trader category that designates the percentage of the long and short contracts held by the four largest traders on the Comex.

Assuming, as is likely, that HSBC's short position was largely put on at lower gold prices, the bank is probably getting hammered with a mark-to-market loss. Full Story

Resources


Gold Bugs Index - HUI

Gold & Silver Index - XAU

COT Reports

COT Gold, Silver and US Dollar Index Report - November 15, 2019

COT Gold, Silver and US Dollar Index Report - November 8, 2019

View All COT Reports

 

- Above are the latest 10 precious metals market reports. Older articles can be found in our archives. -



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