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Gold & Silver: Silver Is The First Up

Aibek Burabayev - INO.com Contributor - Metals


Those who hope tell themselves - one day the tide will turn. I think a lot of people are either long or they’re not and were waiting for the rise of the top metals. Below are fresh charts which could help us to understand where we are and when the tide will turn higher.

Chart 1. Gold Daily: Watch The Breakup For Reversal

Daily Gold Chart W/RSI
Chart courtesy of tradingview.com

I’ve written quite a lot in my previous posts about the tricky nature of corrective structures which have unpredictable outcomes. But the more time we spend inside of it, the higher are the chances that the situation becomes clearer. [Read more...]

Politically-Driven S.O.D. (Sons of Druckenmiller) To Lose Again

By: Gary Tanashian of biiwii.com

You know who they are; they are the ones who denied and denied the ginned up bull market in US stocks that nearly tripled under the socialist regime, circa 2009-2016.  They are the ones who clung to gold well past the caution point last summer.  They are (yes, it’s another snappy buzz phrase to either entertain, bore or annoy you… ) the S.O.D., AKA the Sons of Druckenmiller, AKA politically biased and newly activated market participants.  Reference…

Druckenmiller:  Get out of the stock market, own gold (this helped load the boat full of ill-fated gold bugs in the spring).

The night Trump was elected president, Stanley Druckenmiller dumped gold (this signaled the beginning of reparations to gold’s sentiment profile).  He also became very bullish on the stock market; go figure.

Still feel like following the MSM and these media stars they shove down gullible peoples’ throats?

So the well known and much respected Druck was bullish on gold and bearish on the US stock market until he famously flipped his script literally upside down in a knee-jerked response to the presidential election, which cast off the commies and brought in a man who promised to ‘reshore’ America’s outsourced industries (folks, the smoke stacks are gone and they are not coming back, although more Robots may well be, in time).*  He has promised to cut taxes including especially, corporate taxes, and he has promised myriad other fixes to help the economy trickle down to the long-abused middle class. [Read more...]

Gold Falls on Rate-Hike Fears

Gold fell below $1,300 yesterday for the first time since the Brexit vote in June, as the dollar index rose to a two-month high.

The dollar rose amid increasing speculation that the Federal Reserve will raise interest rates by December. Both Federal Reserve Bank of Cleveland President Loretta Mester and Federal Reserve Bank of Richmond President Jeffrey Lacker have come out in favor of higher interest rates. Manufacturing data released Monday was stronger than expected.

Also pushing down gold is the U.S. dollar's rise against the British pound, which fell to a 31-year low against the dollar after the release of a timeline for Britain's exit from the European Union. Aiding gold's woes is a rise in Deutsche Bank shares today, signaling at least a temporary easing of worries over the bank's liquidity, and lessening gold's role as a safe haven. [Read more...]

Article source: http://feedproxy.google.com/~r/theaureport/Ajgh/~3/nL9k5BfjGn0/17133

It's January 2013, With A Twist

The title was not meant as a play on words in reference to Operation Twist, but now that I think about it, maybe it should be.  The Post-Twist financial world is far different than it was before the genius that is Ben Bernanke’s ‘bigger than yours or mine’ brain concocted a maniacal plan that would “sanitize inflation” signals from the bond market and break the then highly elevated yield curve.*

So, why is today like early 2013 and why is there a twist to that view?  Because two indicators have come together to point to economic stability (at least) in the US, with the twist being that other indicators are pointing to a potential unchaining of inflation this time, unlike the 2013 time frame, which was in the grips of global deflation (and Goldilocks in the US).

So gold bugs, don’t get too concerned just yet.  The sector has been overdue for a correction and that is what it has been getting.  Speaking of sanitizing things, over bullish gold sector sentiment has needed a good clean out.  The 2013 signal immediately preceded the worst of the precious metals bear market, but the 2016 signal need not for reasons explained later in the article. [Read more...]

Precious Metals Sector Downside Target on Friday's Market Rout

Technical analyst Clive Maund assesses the precious metals landscape after Friday's broad market selloff, and offers strategies for precious metals investors.

After what happened on Friday, many Precious Metals sector investors are naturally concerned about the effect of further heavy losses in the broad market on the sector. Let's now review Friday's action, starting with the broad market itself, before moving on to consider the likely impact on the PM sector.

After almost two months of quietly drifting sideways, the ground opened up beneath the broad market on Friday, as we can see on the 6-month chart for the SP 500 index below. It gapped down at the open and plunged by 2.45%, heading ever lower as the day unfolded, there was not even the customary bounce in the last hour of trading. [Read more...]

Article source: http://feedproxy.google.com/~r/theaureport/Ajgh/~3/DWZw1bMu6ls/17098

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