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RECENT EDITORIALS

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June 7th, 2024

Gold and Silver Volatility Increases Heading into Fed Week

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...

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May 31st, 2024

Technical Silver Breakout Confirmed as Stagflation Fears Mount

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...

OTHER EDITORIALS

Gold and Silver Volatility Increases Heading into Fed Week

June 7th, 2024

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...

Technical Silver Breakout Confirmed as Stagflation Fears Mount

May 31st, 2024

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...

Multiple Catalysts are Supporting Higher Metals Prices

May 17th, 2024

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...

The Miners and Silver are Leading Gold’s Next Move Higher

May 10th, 2024

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...

Top Gold Miner Blow-Out Q1 has Shorts Running for Cover

April 26th, 2024

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...

War Fears Keeping Gold in High Consolidation Around $2400

April 19th, 2024

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...

Powerful Gold Breakout Moves Closer to $2500 Technical Target

April 12th, 2024

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...

Junior Gold and Silver Stock Trains are Leaving the Station

April 5th, 2024

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...

Gold Rests as Silver and the Miners Begin Catching Up

March 15th, 2024

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...

PDAC Curse Reversed Again as Regional Bank Fears Return

March 8th, 2024

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...

Gold Remains Firm as A.I. and Bitcoin Euphoria Goes Parabolic

March 1st, 2024

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...

Gold Volatility Increases as Fed Pivot Remains on Hold

February 2nd, 2024

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...

Gold is Quietly Building a New Floor at $2000

January 12th, 2024

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...

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