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Market Updates

Technical Scoop: Inflation Stick, Commodity Fall, Bank Watch

By David Chapman, Enriched Investing

Gold continues to hold above $2,300. Further support can easily be seen, down to $2,240/$2,250. A breakdown under $2,200/$2,225 would be more problematic as we’d question the rally.

Own Gold with Reason into Bank Failure Season

By Mark Mead Baillie

Any “pro” worth his or her salt ought hardly be “confounded” by anything the S&P does, certainly so when it declines from these ridiculously overvalued levels.  A true “pro” ought to expect significant (understatement) downside risk. 

COT Gold, Silver & USDX Report - May 3, 2024

By COT Gold Report

Positions as of 30 April, 2024

Gold’s Pullback and Miners

By Adam Hamilton, Zeal Research

Gold’s pullback maturing will be a great mid-upleg buying opportunity for gold miners, so traders should be watching fundamentally-superior smaller ones.

Metals: Expect Lots of Volatility Off of US Jobs Report

By Ira Epstein

When you look at the gold market, it's down about 1% for the week. That's not so bad on a weekly chart. It's still got this pattern where it came down and it stepped down on the chart.

Keep Your eye on Dollar Reaction to Jobs Data

By Ira Epstein

We're in a bit of a correction. If there's no question, in my mind, at least the major trend is up. The market's working in stages on the downside temporarily; you've got a higher high, lower low pattern – that is not a trend.

Metals: Lot's of Economic Data Leading into FOMC

By Ira Epstein

The market is marching down in price, at this point in time, the pattern was broken. You now have a higher high and lower low. Gold stepped out of an uptrend where the market had been fighting.

Gold Consolidation Triangle Rather Suggests Continuation of the Rally

By Florian Grummes

Given the increasing reversal signals, the probabilities have risen that gold has reached the peak of its upward movement at USD 2,431 and is now already in correction back to the breakout level in the range around USD 2,100, with chance for a renewed rise at any time.

Metals: Much Small Economic Data Due Tues Leading up to FOMC Meeting

By Ira Epstein

When I look at the gold this way, we still have higher lows and higher highs. The market has been unable to close over the 18-day average of closes.

Gold SWOT: Silver Has Caught up and Outperformed Gold by 10% Since Mid-February

By Frank Holmes, U.S. Global Investors

Gold’s ascent rests in no small part on central bank buying, especially from Asia and other emerging markets, writes Bloomberg. This demand is likely to continue throughout 2024.

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