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In his weekly market review, Frank Holmes of the USFunds.com summarizes this week’s strengths, weaknesses, opportunities and threats in the gold market for gold investors. Gold closed the week at $1,206.20 down $17.86 per ounce (-1.46%). Gold stocks, as measured by the NYSE Arca Gold Miners Index, lost 4.21%. The U.S. Trade-Weighted Dollar Index gained 3.09% for the week.
Negative interest rates, cash ban, gold ban, private cash hoarding, cash hoards under Swiss soil – these are all concepts we would have considered figments of a sci-fi writer’s imagination not long ago. Come what may, it will not be easy: neither for the interventionists and control freaks trying to keep a lid on the consequences of their own doings, nor for the people trying to lead a normal economic life without massive restrictions.
The strategy that China has taken in the gold market can also be implemented by individual investors, by focusing on specific gold companies who – in the midst of a commodities bear market and global currency war – are out acquiring already-established gold assets.
In his weekly market review, Frank Holmes of the USFunds.com summarizes this week’s strengths, weaknesses, opportunities and threats in the gold market for gold investors. Gold closed the week at $1,224.06 up $36.68 per ounce (3.00%). Gold stocks, as measured by the NYSE Arca Gold Miners Index, gained 3.88%. The U.S. Trade-Weighted Dollar Index lost 1.61% for the week.
Silver has broken through its 2014 / 2015 downtrend. The daily chart shows that it did so at the 3d test of the trendline. The last breakout attempt of silver was capped by the U.S. dollar rally (starting August 2014). It seems that nothing stands in the way of the grey metal at this point, at least not at this point in time. Precious metals should be watched very, very closely. It is silver that could trigger a breakout for the whole precious metals complex (including gold, miners, palladium, platinum).
The Dollar Index is falling 1% today to a new four-month low. That’s giving a boost to commodity markets, and precious metals in particular. Silver in particular is having a strong day. The second chart shows the Silver Trust iShares (SLV) gapping more than 3% higher in heavy trading. It is now testing its early April high and 200-day average. The third chart shows the Gold SPDR (GLD) jumping as well in heavy trading. Precious metal stocks have having a good day.
So far the Gold Mining sector has failed to staged a strong rebound from the very important support level at around 160 on the HUI Gold Bugs Index. While the price still remains above support, it has not yet moved above the 200 day moving average.
For the week commencing May 11th, we expect a very quiet week. There are only a handful number of economic data without any central bank announcement, as seen on the next table. The data that are scheduled to be released are typically not moving precious metals prices.
In his weekly market review, Frank Holmes of the USFunds.com summarizes this week’s strengths, weaknesses, opportunities and threats in the gold market for gold investors. Gold closed the week at $1,188.38 up $9.79 per ounce (0.83%). Gold stocks, as measured by the NYSE Arca Gold Miners Index, lost 1.54%. The U.S. Trade-Weighted Dollar Index lost 0.54% for the week.
This article details several cases in which silver helps several industry types in making advances: agriculture, health and electricity. This is an excerpt from the latest newsletter released by The Silver Institute.
We looked at these charts just a few weeks ago. The charts still look pretty so I’m doing a quick update. Price continues to base above the 152 support level. MACD is rising steadily on a buy signal. The transition, of course, is from downtrend to uptrend after three+ years of steadily lower prices. The blue Andrews pitchfork is describing what could be a nascent uptrend in this sector.
This is an excerpt from the latest Advisory Board meeting by Incrementum Liechtenstein. In this article, we highlight the thoughts of Jim Rickards and Heinz Blasnik when it comes to the future of our monetary system, and their views are rather surprising.
Gold Spot price carries an enigma in behavior over the past six months in that with the dollar rally, Gold went nowhere; with the stock market rally, Gold went nowhere. Both of these relationships are generally inverse in nature. However, from a Relative Strength perspective, the expected underperformance of Gold versus the dollar and versus stocks, has held 6 Gold has underperformed both.