By: Mike Gleason, Money Metals Exchange - 18 October, 2019
There will one day likely be another great wealth transfer – from artificially overvalued financial assets to undervalued hard assets such as gold and silver.
If the Fed continues to damage its own credibility by saying one thing and doing another – growing its balance sheet QE style while insisting it’s not QE – investors may begin preferring the unassailable credibility of physical precious metals. Full Story
Gold trend turns up if it gets above $1,503. 18 day moving average also at $1,503 area, important resistance area to get above for the gold markets to turn into a more bullish bias:
By: Rick Ackerman, Rick's Picks - 18 October, 2019
I like gold here, but I'd like it even more a somewhat lower levels. How much lower? Here are two charts to judge, including one in GLD for those of you who don't trade futures. Full Story
While we have been tracking the metals market for the next rally set-up, we have seen some signs that the market may attempt to begin that rally sooner rather than later. However, I have to be honest in noting that I am seeing more signs that lower levels may still be struck before we are ready for that rally.
So, as I have been saying for the last few weeks, I am going to still treat the market as likely needing more of a corrective downside structure before we begin the next rally phase – until the market is able to prove otherwise. Full Story
By: Steve St. Angelo, SRSrocco Report - 16 October, 2019
While the silver price is trading at another important short-term technical level, the underlying fundamentals continue to improve. Since silver peaked at $19.75 at the beginning of September, it has been correcting lower to key support levels. As I mentioned in my last update, the silver price would like correct back down to a key support level before moving higher. And, if history is a guide, there is a likely price where that turnaround will occur. Full Story
Economic data releases from USA and Brexit will affect stocks, bonds and energies. Physical demand in India will be there on sharp dips for another week. Thereafter price trend will dictate gold investment and silver investment demand in India. Full Story
By: Stewart Thomson, Graceland Updates - 15 October, 2019
- For silver, all roads probably lead to the $22-$25 area. For gold, all roads likely lead to $1600-$1800. There could be significant bumps in these roads, probably involving time more than price.
- Please click here now. Double-click to enlarge this silver chart.
- Silver looks stronger than gold, but gold is also looking very solid, from both a fundamental and technical perspective. Full Story
The best performing metal this week was palladium, up 1.98 percent. Even after a weekly loss, gold traders and analysts stayed bullish on their outlook for prices in the weekly Bloomberg survey. Stocks continue to swing and currencies fluctuate ahead of continued U.S.-China trade talks. Just like last week, palladium hit a fresh all-time high this week of $1,707.51 an ounce, according to Bloomberg data. September marked the 10th straight month of gold buying for the People’s Bank of China, adding 5.9 tons and bringing total holdings to 62.64 million ounces. China has added over 100 tons to its reserves in the last 10 months, demonstrating that it sees value in the metal. Full Story
Perspective is everything when it comes to the markets. It is always most important to look at the long term charts first and then work your way back to the shorter timeframes. Long term charts also show where major support and resistance resides that can have a calming affect on ones emotions when the inevitable corrections take place.
Its been several months or so since we last looked at this 30 year quarterly chart for Gold that gives us very clear roadmap of how the price action may play out over the intermediate to longer term... Full Story
Skepticism on the positive impact of US-China partial trade deal has resulted and silver trading firm. In my view, there will be more trade deal with other nations should Trump’s political problems worsen. Further trade deal between USA and rest of the world will be dependent on internal politics of USA. Full Story
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