By: Adam Hamilton, CPA, Zeal Research - 24 July, 2020
Both gold and silver surged dramatically higher this past week, propelled by torrents of investment capital deluging in. The resulting major new highs are really exciting, unleashing widespread fear-of-missing-out buying. But the precious metals’ blistering jumps have left them very overbought. They have come so far so fast they are at and above technical extremes that have proven unsustainable. So caution is in order here.
Gold and silver are powering higher on balance in secular bull markets that have been running for years. And their fundamental underpinnings are stronger than ever. The Fed’s astoundingly-epic money printing since mid-March’s stock panic has catapulted stock markets to dangerous bubble valuations. And the vast majority of investors have yet to diversify their stock-heavy portfolios with counter-moving precious metals. Full Story
By: Chris Marchese, Chief Mining Analyst at GoldSeek - 24 July, 2020
This week saw higher metal prices with the mining stocks performing well. Silver had an incredible week, being up >$1/oz. for two consecutive days. Silver reached on all-time high and had its best week in a long time. Like two weeks ago, there were countless financings for junior stocks again this week, which are listed below. Earnings should start to be reported in two weeks or so. Some companies will report great numbers and others not so much, all depending on the impact of mining suspensions (if any) for every company. Regardless, Q3 numbers will be an absolute blow-out. Full Story
Federal Reserve is Protecting the American brokers by broadened access to three of its lending facilities designed to provide a credit backstop to firms hurt in the coronavirus crisis, allowing broker dealers that meet certain minimums to participate. Our View: This move by the Federal Reserve is an indirect measure to prevent US stock markets from moving into a bearish zone. Corrections (if any) in US stock markets will be limited. Gold will rise on overall basis as a result of this move by Federal Reserve. Correction will be there. It may not be a one way price rally in gold. Full Story
The purpose of this update is to celebrate and mark silver’s powerful breakout from a giant base pattern that started to form as far back as 2013 – 2014, a breakout which has only happened during the past 2 days, yesterday and today, with today’s advance finally seeing it break clear above the resistance at the upper limits of the base pattern. While this doesn’t mean it can’t drop back again it makes it less likely, and even if it does it is likely to soon turn up again. Full Story
Wheaton Precious Metals CEO Randy Smallwood said that mining companies could raise as much as $3 billion by selling shares of future output. “Any time there’s a bit of financial stress in the industry it always opens up financial opportunities for us,” said Smallwood. Royalty companies such as Wheaton provide upfront payments to miners in exchange for the right to buy metals at a discount in the future, reports Bloomberg. Wheaton says it has been “very active” on potential deals, including one valued at $1 billion. Full Story
Those objectives are long-term resistance. Notice the down spikes to 26 in 2011 and 2012. That is resistance. So, given the energy that tends to be released once the silver horse gets the bit in its mouth we can establish a firm eventual target of 24-26 if/when silver makes it through the bull gateway of 21.23. We have had this target in play for months, but would activate it above 21.23. Full Story
By: Stewart Thomson, Graceland Updates - 22 July, 2020
It’s a fabulous environment for both short-term traders and long-term investors.
There are magnificent floors of support in play at $38 and $32, and there is a “staircase” of higher minor trend highs and lows.
Are gold and silver stocks climbing a staircase to financial heaven? I think so! The uptrend channel is solid. Miners are raising capital with ease, and unlike the government, they are using it prudently. Full Story
Market Musings welcome the founder and research director Mark O’Byrne from GoldCore. When it come to gold and silver Mark is your man. He explains how gold has a tried and tested performance as a store of wealth over centuries, and why he thinks everyone should look to gold especially given the current economic situation. We also talk silver, could that provide enhanced returns over gold and what are the risks? Full Story
Central Banks coming out this week and next week with policy meetings. The weekly gold chart makes another new high. Gold bias is up, trend is up, resistance remains the upper Bollinger band around $1831:
Only covid vaccine hopes has resulted in global stock markets rising. Silver has to trade over $2020 today to rise quickly. Gold is rising from factors such as US imposing ban on certain Chinese companies due to its treatment of Muslim minorities and US presidential election drama. Full Story
After a measured advance in recent months gold looks on for a breakout to new highs soon. On its latest 11-year chart we can see that, with the Bowl boundary steepening to become near vertical, it could rise very rapidly and very soon, which fits with the most seasonally bullish time of year for gold that we are now entering. Full Story
Gold traders were conditioned to trade through the churning phase. Gold is currently in the phase where those kicked out of the market, still are not sure what to do, they are still out -- and when they jump back in, we should have our intermediate cycle top:
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