Search results

The divergence between gold metal and the XAU/HUI continues today. This divergence appears to be fairly powerful and judging from prior experience, I am choosing NOT to fade this indication. Therefore I am back long GCQ7 as of today as the gold shares are currently pricing in an imminent up move...

After today's breakdown under the 20EMA yet again, it appears that 632-635 cash gold is the next downside target. If gold can't hold support at the March 5th low of 632 then the door opens to a downside move to 615 imo...

Looks to me like the next target is the 400DMA of 615 before the selling subsides. Bearish action continues, funds not holding onto positions into the start of the 3rd Quarter is not good imo...

Very similar instance with the mining shares (GDX) which continue to bump up against downtrend resistance. A formidable target of 35 on the GDX ETF remains if there is no significant follow through to the upside here very soon...

Gold now facing a 3rd phase of overhead resistance so far since the April top of 692 cash. Unless gold can break over this downtrend line decisively, the bulls will likely give up and give into the bears yet again. We need to see a hard move right back over 666.10 basis GCQ in the coming days or...

looks like we finally hit some kind of intermediate low. Still out of GCQ7 but now long the load of September Silver (SIU7) as the upside looks much more favorable then gold.

I tend to agree. The buy setup failed yesterday once GCQ broke 655. I was stopped out this morning and will stand aside now. Both gold and silver look to continue their downtrend for quite sometime. Quite disappointing but that's the way it goes sometimes.

For now if GCQ trades under today's afternoon globex low of 655.50 then I will stand aside. Technically we broke short-term support this afternoon under 655 cash which is a bit negative. 650 cash would be the next major support level if gold sells off further. Ideally, we need to see cash gold...

It looks like they drop kicked gold down to 655.50 after open-outcry closed. Just about $10 down from yesterday's high. This may have been the last opportunity to buy on this upleg as long as we don't see any trades occur under 655. Today's decline was good enough to get GCQ to test the new...

average price is 657.20

The last time the commercials reduced their net short exposure by this much was back in January. The gold price then moved from a low of $603.00 to $692.50...

the fact is very few traders make it in this business and that is why the losers or amateurs pay us the professionals. Once a trader learns to trade like a professional then he can begin to make real money. Trading is highly competitive, a participant is gaming it up against professionals that...

After witnessing a $40 decline in gold from Mid-April, it appears that gold could be on the verge of bottoming out right here and now. Several attempts to push GCQ7 under 650 have failed on numerous occasions which confirms the underlying demand and strength of the bull market in gold. Through a...

The COT did not cover a significant amount this past week, the RCB is not some major player in the gold market and if one is trading off the gold share performance on a daily basis then you'll quickly get burned...

What makes YOU think that THEY will be big buyers this time around? What makes you think your so smart?

Nice report... I don't think we are entering a "bear market" for gold/silver just quite yet though. The way I look at things right now is that the metals are indeed in a seasonal period of weakness as mentioned. However the intermediate and long-term bull trends are still well intact and we will...

It now appears that we have some short term support right at 660 cash as the selling has abated for now. We could likely see gold rally up to 665-670 max before the sellers reappear. XAU/HUI also seems to confirm some type of short term low here as well. Right now the gold indexes are showing a...

Thanks for posting the chart. As of right now GCM is at 657 so support appears to be broken on this particular chart now. Support trendlines only work so well for gold when they hold but once they break, then traders recognize the opportunities to sell and hence the snowball effect occurs. I...

We got the rebound back to resistance at 665 last night and of course the selling resumed shortly thereafter. Looks like we have hit some kind of short term low right at 655 however the quality and thrust of the bounce should tell traders how far up the rebound will be. My guess is we can see...

665 cash support blown out as expected. We'll likely see a rebound to 665-670 on cash gold before the next wave of selling hits. Looking for a low in the 635-642 area by mid-June or so. If the commercial interests begin to massively cover positions at the 640 area, then gold can still maintain...