I have never found a consistent way to find tops in this market over the past 30 years, when you have central bank QE interfering. Over time, shorting generally cost me more money than I made. Markets go down differently than they go up, tops form differently and it is difficult to consistently time the tops:
Gold has had the best close since 2011. The pattern remains in a neutral trend in the short-term market. The market is well over the 18-dma, $1778.80 level, but we have a problem:
The whole world is buying gold in all forms be it ETF, physical or futures. The mad rush to invest in gold will defy over brought technical and other technical. I see more and more pension funds investing in gold as well due to ZIRP worldwide (zero interest rate policy). . Hedge in options or spread if you trade against the herd and short sell gold. Full Story
By: Steve St. Angelo, SRSrocco Report - 9 July, 2020
First, let’s look at silver. While silver is still lagging gold, I believe it will start to outperform the yellow metal once it finally BREAKS above the $21 level. The monthly silver price has been stuck below the $18.50 level since 2016. While silver has traded above $18.50, it has not closed above it. We need to see the body of the Monthly Candlestick close above $18.50 for it to be a positive sign for traders. And, with silver closing today at $19.16, we could see a move to $21 rather quickly: Full Story
When the previous secular bull market began at the 1974 bear market low no one could have imagined then what was about to take place over the next 25 years. The news from a fundamental perspective couldn’t have gotten any worse which is the case at an important low. Even during the first 10 years of the bull market no one could have known that one of the greatest bull markets of all time lies ahead except for maybe a few tech geeks who understood some of the technology that was being born.
The 1980’s was the birth of a new technological revolution that everyone takes for granted today. Computers were only for big corporations that had the man power and money to run them. The average person in the early 1980’s may have heard of computers but the internet, what is that? Again, the average person back then didn’t have a clue of how the new technological revolution was going to change their life. Full Story
By: Dave Kranzler, Mining Stock Journal - 9 July, 2020
The monetary “gods” at the Federal Reserve have created the perfect monetary policy recipe to fuel gold, silver and mining stocks to new all-time highs and beyond. While the bubbleheads in the financial media have been garishly cheerleading the general stock market as it heads to an extreme overvaluation that will not end well, the mining stocks have outperformed the big three stock indices by a considerable margin. As an example, since the March bottom, GDX is up over 100%, while the Nasdaq Composite is up 51.6% and the SPX is up 40%. And the mining stocks are just getting warmed up. Full Story
During the 70s bull market, gold went from $35 to $195 in the first phase. That was a 458% increase. The first phase of the current bull market took gold from $252 to $1920, which made for a 661% increase. Full Story
Gold is bullish. Spot gold will rise very quickly on a break of $1810. Federal Reserve policy makers pledged more support by way of more bond buying. I never understood how printing more money leads to way out of a pandemic or a recession. Central banks are not addressing the core economic fundamentals of (a) Reduction in the cost of living like school fees and college fees. (b) Creation more institutions of excellence for future jobs for the baby boomers on or after 2010. (c) Preferring more local manufacturing over outsourcing of manufacturing. (d) Increased spending in creating more infrastructure in health. There other core economic issues which needs to be urgently addressed. Full Story
Gold's novice traders have given up and lost patience. Lots of traders in the choppy markets, get stopped-out during a consolidation and shaken out, over and over. Investors need to be more patient. Gamblers who trade everyday, well these people consistently lose money:
The usual supporting factors for gold are still there like (a) Thawed relations with China. (b) US presidential elections will see a greater diversified investment away from US dollar. (c) Historically high M3 money supply worldwide. Use sharp dips to buy. But remember that price corrections up to $75-$125 (if any) will be a part and parcel of the bullish trend. Full Story
By: Chris Marchese, Chief Mining Analyst at GoldSeek.com - 5 July, 2020
Gold had a decent week, crossing $1,800/oz. then backing down. But can it maintain momentum and convincingly pass that level? It seems like some consolidation is is in order for the metal(s) and mining stocks. Whether or not that takes places from a higher level remains to be seen, but be prepared for a pullback. Regardless, unlike the most industries in the world where companies are struggling to maintain past levels of profitability, the gold miners are seeing a great margin expansion and generating significant excess cash and is really the only growth industry [in 2020].
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