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Market Updates

Gold Miners’ Q1’24 Preview

Gold’s remarkable breakout surge to dazzling new heights will fuel soaring mining profits, which are already on track to achieve big new records.

Metals: US Monthly PCE Index Data Will be Market Moving Number

So while the swing line has turned up the battleground is very clear. It's at the $2360 level; for me to get friendly, you need to close over it. So far it's a bear market rally because of the bias.

Metals: First Quarter Prelim GDP & Weekly Jobless Claims

The gold market has been over that 18-day average all this time. So it's had a heck of a run and it is now the correction phase that it's in. I didn't say a bear market phase.

Will Gold Prices Keep Rising in 2024?

The gold price had a bad day, falling by more than 2%. Whilst we may well see some additional pullback, we don’t expect this to be the end of the gold price rally. 

Gold Price Reaction: Key Zones To Buy

I suggest buying gold bullion at $2265, but for silver and gold stocks, the zone of focus is $2220-$2150.

Metal Markets Still in Corrective Mode but Seem to be Losing Downside Traction

So far for the week, the gold market is down 3.2%. If the market were totally fall out of bed, it could go back to the $2141 level. That's not what I'm expecting.

How the Dollar Reacts this Week Should Determine What Gold Does

Don't know if it'll last or not, but starting down 2.96% on the daily chart, you can see how much gold fell. So, the gold market today really got hit hard; higher high, lower low, it broke the uptrend.

Gold SWOT: The Sharp Rise in Gold Prices This Year Could Provide a Nice Bump to Miners’ Earnings

Assuming bullion prices hold through the end of June, the rise in gold prices could provide a nice bump to miner earnings starting in the current quarter.

Technical Scoop: Topping Signs, Material Rise, Defensive Energy

Gold rising despite rising long interest rates and a rising US$ Index is interesting, as it appears to indicate a shift in sentiment. Yes, we have the fear trade, but we also have inflation eroding all fiat currencies.

Gold Fit to Pull Back a Bit

Silver now leads the year-to-date percentage tracks at +19.6%, followed by Oil +16.7% and then closely by Gold +16.2%.  The S&P’s once-inane gain has now fizzled to just +4.1%.

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