Tag

GC
Gold Daily Chart
06
May

Gold and Silver Coiling for a Move

I want to review price action in gold. Here is the long term, 40-year semi-log chart of gold monthly futures. I have drawn my fibonacci levels from the secondary high in 1980 ($720) to the bottom in 2001 ($250). The story is as follows:
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Long term gold chart
25
Mar

Historic Bounce in Gold at Key Fibonacci Level

I want to review price action in gold. Here is the long term, 40-year semi-log chart of gold monthly futures. I have drawn my fibonacci levels from the secondary high in 1980 ($720) to the bottom in 2001 ($250). The story is as follows:
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GDX-3-12
12
Mar

Liquidity Crisis Accelerates and Hits Metals Hard

The last two weeks have been extremely volatile in the markets, and for the first time in a long time my friends and family have called to inquire about “what is going on in the markets?”
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03
Mar

The Market Crash of 2020: Where Do We Go From Here?

The last two weeks have been extremely volatile in the markets, and for the first time in a long time my friends and family have called to inquire about “what is going on in the markets?”
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13
Feb

$GC Mid-month Gold Update

Price action in gold has traded in a narrow window over the past few weeks, winding into a tight coil as it begins to consolidate for another leg higher. The wave counts suggests that gold is in the early stages of a Wave 5.
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01
Feb

$GC Gold Ends January on a Monthly High

Gold bugs should be pleased with the monthly performance of gold in January. The definitive monthly break of the $1520 level, which had acted as strong monthly support six times between 2011-2013, before serving as resistance during this recent consolidation period between August and December, has sent a bullish longer term signal to the market.
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Oil-gold ratio
10
Sep

Oil/Gold Ratio At Key Support

The fear throughout the summer has been that a frothy equity market (up double digits YTD), a Federal Reserve that has been reluctant to aggressively lower rates, trade wars with China and other countries, an inverted yield curve, and the cusp of a Presidential election would all serve to dampen the economic outlook and give...
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gold ands bonds
29
Aug

Gold and Bonds Highly Correlated

Since 2015, the gold market and bond market (I use the $TLT 20-Year Bond ETF as a proxy for bond market performance) has been highly correlated. Both asset classes are viewed as a risk-off flight to safety. While past performance does not predict future performance, it is worth noting that many are viewing the bond...
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Oil in Gold Terms
31
May

Chart of the Week: Oil Priced in Gold Breaking Down

The ratio has been in a wide ranging downtrend channel for a decade, with a countertrend move beginning in early 2016. That move broke its uptrend channel in December, pulled back to retest prior channel support, and has since broken down again on recent trading action. This breakdown is bearish for the ratio, which translates...
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