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By: Ira Epstein - 2 April, 2020

Gold's 18-dma at $1584 area, support. Bias in gold is up. Bollinger bands: $1717 / $1450..

Video update Full Story

By: Gary Savage - 1 April, 2020

There are one of two ways this can go here, retest the lows soon and then followed by a sustained rally. Will depend on how countries implement covid response.Unemployment report on Friday. Market might get nervous into report, but odds are better that we don't undercut prior lows if we even do go down.

The other possibility is..

Video Update Full Story

By: Stewart Thomson, Graceland Updates - 1 April, 2020

Gold is majestically postured now, because America’s government and central bank continues to borrow, spend, and print money with surreal intensity.

The light at the end of the tunnel is a stagflationary freight train.

A beautiful inverse H&S bull continuation pattern is in play, with a target of $1975! Full Story

By: Ira Epstein - 1 April, 2020

I was warning for an end of the quarter volatility as we finish out the first quarter. Can't wait for gold to get out of this pattern. This is where I am concerned..

Video Update Full Story

By: Chintan Karnani, Insignia Consultants - 1 April, 2020

Reduction or normalization in gap between spot gold and Comex gold June futures is the prime reason for gold price to fall. Delivery uncertainties are over the immediate term. I expect physical gold to be in short supply this quarter. Full Story

By: Jordan Roy-Byrne CMT, MFTA - 31 March, 2020

The historic action of the precious metals sector over the past few weeks has continued.

The strong recovery in GDX, GDXJ, and Silver has potentially invalidated the technical breakdown that occurred during the crash. It appears to be a failed breakdown.

Furthermore, Gold was looking vulnerable on the weekly, and monthly chart yet was able to slingshot back to $1700/oz. It is currently up $88/oz or 5.6% this month, while the S&P 500 is down 14%. Full Story

By: Gary Savage - 31 March, 2020

Perma-bears are going to wrong. This is why:

Video Update Full Story

By: Ira Epstein - 31 March, 2020

Gold still has a bullish pattern in the short-term. Support around $1595..

Video update Full Story

By: Chintan Karnani, Insignia Consultants - 31 March, 2020

Range bound trade in gold and silver will be broken by tomorrow and a new range will be formed. A new month and a new quarter high on economic optimism but low on confidence. Uncertainty on global economy and inability to prevent coronavirus spread has resulted in gold remaining firm and crude oil and industrial metals trading with a softer bias. Spot gold should have broken past $1700. By the second week of April spot gold should break past $1700. Full Story

By: David Chapman - 30 March, 2020

So is the bear over? Many are proclaiming the bear dead because of this past week’s 20% plus rally. But as we note there are plenty of signs that this could be short lived. We also note that we have started what we believe is a new secular bear. The economic numbers this past week were stunning. The potential unemployment numbers could be staggering. This Friday April 3 the March employment numbers are out and we wouldn’t be surprised at a negative number given this past week’s initial claims and the huge applications for assistance here in Canada as well. A recession? For sure, and many believe we have already started one. But this has the potential of turning into something far worse. Lurking in the background is a mountain of debt and an overheated housing market. We look at that as well.

Gold rallied but there were some negatives spotted and we failed to make new highs. The divergence with silver continues. But in the physical market the demand for coins and bars is soaring and there are shortages. The energy market remains a disaster zone. A barrel of Alberta crude trades for less than a barrel of monkeys. It is that kind of market.

We do look for something cheery but it is difficult to find. Best estimates on the COVID-19 crisis doesn’t see it peaking until sometime later in April at a minimum. This could last months. Something the western world is totally unprepared for. Full Story

Resources


Gold Bugs Index - HUI

Gold & Silver Index - XAU

COT Reports

COT Gold, Silver and US Dollar Index Report - March 27, 2020

COT Gold, Silver and US Dollar Index Report - March 20, 2020

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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