Trump’s impeachment progress is the key reason for gold and silver to rise. Impeachment news is the reason for gold price to rise from $1460 to $1520. Thereafter investment interest and speculative longs pushed gold past $1600. Gold prices not falling below $1530 despite some bearish news should be taken as short term positive by bulls.
Featured is the US dollar index. Price is declining inside the brown channel. The supporting indicators are negative. The brown arrow points to a 'bear cross'. A close below the blue arrow will send price looking for support at the bottom of the channel. A declining dollar will be of benefit to gold and silver. Full Story
By: Stewart Thomson, Graceland Updates - 15 January, 2020
“Gold is a hedge against debasement and what we saw in 2011 was debasement, printing too many dollars and the real rate goes down, down, down, which then pushes up the price of gold…. the potential to push gold back up into that $1,800-$1,900 range becomes pretty realistic” – Jeff Currie, Goldman Sachs Global Head of Commodities Research, Jan 11, 2020. Full Story
On the face of it, the so called trade US-China trade deal looks a sham just to fool the voters. US treasury secretary has said that trade tariff’s with China will be there until the second phase of the trade agreement. Trump’s biggest vote bank is farming states. Energy companies have a history of funding Republicans. Chinese will be buying very large quantities to American farm produce and American energy products. Trump has taken lessons from Asian politics. I see limited downside risk from here in gold, unless there are economic reasons. Full Story
I expect the stronger PM stocks to decline much less than the weaker ones showing relative strength. For now I feel more comfortable just going to cash and wait for the next setup that may come at the possible 4th reversal point in many of the PM stocks. If one is long term bullish then you can ride out this consolidation phase or sell some of your weaker PM stocks to raise a little cash to be able to hopefully buy some bargains when the time is right. Full Story
Ask yourself what factors what factors will affect global financial markets once the so called US-China trade deal is signed. Trade war is the biggest reason why gold prices rose from $1200 to $1600 in around twelve months. Central bank buying and other reasons have also contributed to gold price rise but the biggest catalyst has been the trade war and recession fears. I will happy if gold prices move into a short term bearish phase. Herd is buying gold. I am very cautious in any short term investment when I see masses investing as if they will never get prices. You must seen that when crude oil prices were at $140 and masses were buying heavily like a freebie. The end result crude oil prices fell below $40 over the coming years. Long term investors of gold and silver need not worry. Gold will continue to rise. The pace of rise of gold and silver will vary. Full Story
Newmont Goldcorp announced on Monday that it is streamlining its name after last year’s megamerger with Goldcorp. The company will now go by simply Newmont, and has promised shareholders a 79 percent increase in its quarterly dividend. Centamin reported that its fourth quarter gold output at the Sukari mine was up 51 percent from the same period last year for a total of 158,387 ounces. The company said its 2019 total gold production was up 2 percent from the previous year. Bloomberg reports that Sibanye Gold Ltd has exercised its option to buy an additional 168 million shares in DRDGold to take controlling shareholding interest in the surface-tailings producer. Full Story
It has been a week of surprises since the last updates were posted. First, I had not expected Iran to retaliate following the murder of its top General by a US drone, but it did, despite the risks, as it was politically necessary to assuage the extreme anger of its population who demanded revenge. The next surprise was that Israel and the US did not use this retaliation as an excuse to bomb Iran back to the Stone Age, which is what they really want to do. As we know, the long-term goal of Israel and the US is to subjugate Iran, and they will not stop until they attain this goal, and so it goes on. It appears that there was a bit of theater involved in Iran’s retaliation, as it clandestinely signaled its intentions which allowed US forces to get out of harm’s way. Perhaps US forces did not then launch a blitzkrieg out of consideration for this courtesy. Full Story
Gold monthly shows gold still up $37. Gold monthly shows upside breakout, Bollinger upper band around $1,600 and rising on the monthly charts, bullish. Weekly chart gold at highest close in years. Gold has broken out of this drifting pattern:
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