As mentioned in this column on December 6, gold remains caught in a medium-term corrective cycle, while long-term price charts and macro fundamentals still firmly favor the safe-haven metal going higher once an extended correction has run its course. Gold volatility increased within a now 8-week symmetrical triangle over the past 7-days. Following a brief move above $2750 last week, Gold Futures...

At present, gold is caught in a medium-term corrective cycle, while long-term price charts and macro fundamentals still firmly favor the safe-haven metal going higher once a now 6-week correction has run its course. As mentioned in this column heading into the U.S. presidential election, gold had been long overdue for a 5-10% correction. The 54% 12-month surge in bullion into the end of October...

On the Friday before election week, gold volatility had already begun to increase in anticipation of election uncertainty ending. As mentioned in this column just ahead of the U.S. presidential election on November 5, gold has been long overdue for a 5-10% correction.The 54% surge in bullion over the past 12-months had yet to experience as much as a 5% correction heading into a chaotic U.S. election, with...

Another month in the books and another record close for the gold price, despite a strong October rebound in the U.S. dollar and Treasury yields. After reaching another all-time high at $2800 on Wednesday, some technically healthy profit taking during month-end book-squaring on Thursday took Gold Futures $50 lower for a 3.4% gain in October. After Gold Futures printed...

Despite signs that the U.S. economy is still strong and the U.S Dollar Index rising 3.6% from a 2-year low struck in late September, Gold Futures closed above $2700 on Thursday and is now up over 30% on the year. Following a healthy $80 correction last week to work off a short-term overbought situation, the safe-haven metal posted its 38th daily all-time high close since March...

Technically overbought Gold Futures began the week with more healthy profit taking from last Thursday’s record high above $2700. This is also a “Golden Week” holiday in China that will end on Monday. As one of the world’s most important economies, this extended shutdown can significantly impact the international supply chain. Most dealers and stores are closed, while the lull in demand often sees...

While the gold price has rallied from a 13-year cup & handle breakout at $2100 in March to post 38 seperate all-time daily closing highs, the recent rise in silver has not garnered much attention. Silver, which serves as both a safe-haven investment and a key material in industrial applications, has rallied more than 36% so far this year to outpace the 30% gain in gold. Furthermore, although...

Going into what was arguably the most highly anticipated week of the year, and possibly the most pivotal moment in U.S. monetary policy history, the Federal Reserve began an expected easing cycle with a 50-basis point rate cut on Wednesday. The Fed also projected lowering interest rates by another half point before the end of 2024, and the world’s most powerful central bank has...

Big money traders and fund managers returned to their respective trading desks Tuesday from extended summer vacations. Collectively, more than $1 trillion in value exited the stock market on September 3, as recession fears entered the marketplace to begin what has historically been the worst month for equities. Nearly a quarter of the entire U.S. market drawdown this week has come...

Gold Futures have rallied to fresh record highs three times over the past three weeks, topping $2500 an ounce with the potential to rise even further as the perfect storm of potential rate cuts, war fears, and rapidly rising debt levels continue to support record high prices. The Federal Reserve’s insistence on keeping interest rates higher until the economy moves meaningfully towards its...

From a successful test down to its rising 18-week moving average near $2300 in late June, August Gold quickly regained the $2400 threshold before achieving a new all-time high at $2488 this Wednesday. But with gold becoming rapidly overbought, profit-taking this morning has driven the price quickly down to test support at $2400...

Following a major breakout with a Q1 basis close above former 13-year resistance at $2000, a blistering 9-week $450 move saw Gold Futures become extreme overbought into blue-sky territory at $2450. As we head into the last week of Q1, gold has seen a healthy 10-week $150 consolidation of these outsized gains thus far with a higher low at $2300 becoming strong support...

Sentiment towards gold continues to be supported by fears over U.S. government debt, the anticipated arrival of rate cuts, elevated geopolitical tensions, and economic uncertainties. After the Bank of Canada (BoC) became the first G7 central bank to cut interest rates on Wednesday, the European Central Bank (ECB) cut rates on Thursday for the first time in 5 years. The ECB became the first...

Silver prices have surged to their highest levels since December 2012, driven by robust industrial demand and expectations of Federal Reserve interest rate cuts. Following a March technically confirmed breakout in gold with a monthly basis close above critical 13-year resistance at $2100, the silver price ended May trading on the COMEX this morning above major 12-year resistance at $30...

Last week, I called to your attention to both silver and the miners being in the process of leading gold higher. This indeed was setting up the gold price for a weekly close above $2400 this week, while silver has moved above stiff multi-year overhead resistance at $30 to close at a 4-year high. Along with geopolitical risks from war, both military and trade, precious metals are being supported as the financial...

After another volatile Fed Week, the gold price continues to consolidate recent outsized gains within a $150 range as high interest rates persist and many economists are cutting their forecasts for a rate cut in 2024 to possibly only one in Q4. Last Friday's disappointing U.S. jobs report, showing an uptick in the unemployment rate, was followed by this Thursday’s U.S. weekly jobless claims jumping to...

With the gold price becoming extreme overbought following a $450 move to the upside from its major bottom at $2000 in mid-February, a healthy correction of outsized gains continued this week. After fighting in the Middle East calmed down last weekend, nervous longs began to take some large short-term profits off the table on Monday. The effects of “higher-for-longer” interest rates on the...

Within six weeks after the major breakout above $2100, gold has gone through $2300 and quickly moved over $2400, suggesting that $2500 is within sight. After soaring to nearly $2450 last Friday, Gold Futures made a strong $75 reversal but not a key reversal, as gold prices did not take out the low of the previous day...

Another day, another all-time high for the gold price. Since the last week of March, Gold Futures have risen over $250 to move above $2400 as I type this column while trading up 11 of the past 13 Comex sessions. The safe-haven metal is rising sharply despite real yields and sticky inflation signaling “higher-for-longer” Fed policy interest rate expectations...

Despite a multi-month high in the U.S. dollar and rising Treasury yields, Gold Futures posted an all-time high at $2238 at the end of Q1. This significant event has shifted risk to the upside in the precious metals complex. Heading into the first week of Q2, the rising USDX has clearly lost its grip on the gold market as U.S. government debt continues to spiral higher, now adding $1 trillion more every...

After a sharp two week rise into blue-sky territory above $2200, which saw gold move up $150 during 8 consecutive positive trading sessions, short-term extreme overbought Gold Futures were due for a rest coming into a heavy U.S. data schedule this week. With higher U.S. inflation data coming in a bit hotter than expected on Tuesday, the safe-haven metal began a healthy consolidation of outsized gains on que...

Each year, during the first week of March, investors, analysts, mining executives, prospectors, geologists, government officials, and students from 135 countries descend upon the Metro Toronto Convention Centre 
in Canada to attend the world’s largest mining convention. The Prospectors & Developers Association of Canada (PDAC) is the world’s premier mineral exploration and mining event...

I have received several emails recently inquiring about my thoughts on the recent move out of gold ETFs and into Bitcoin, which has increased since the beginning of 2024 along with rhetoric of Bitcoin replacing gold as a safe-haven. While it is true that investor capital has been flowing out of gold ETFs and into bitcoin, it is also true that all parabolic rises in anything eventually crash...

To begin what has been a volatile week in the marketplace, the tragic killing of three U.S. soldiers in Jordan over the weekend by an Iranian proxy group sparked a safe-haven rush into the U.S. dollar, T-bonds, and gold. The safe-haven metal rose above $2050 into the FOMC meeting conclusion on Wednesday, to close out January at $2067 per ounce despite recent hawkish Fed-speak...

With Gold Futures heading towards a weekly close back above $2050 to end the Comex trading week, gold bulls have turned the more bearish momentum to start the year into a more bullish one instead. Both gold and silver moved higher even as 10-year Treasury yields and the U.S. dollar remained strong after mixed inflation data...