The chart of gold futures does not readily show gaps but for the purposes of identifying emotional points the chart of GLD works well, just like any other stock. Gold is getting creamed today and GLD is dropping to fill the gap. The situation is intact, technically but one possible negative is that the recent rally has filled the gap from early November. Also, as … Continue reading NFTRH+; Gaps
Today long-term interest rates are jumping with the political backdrop. The precious metals are selling off. The story goes that rising interest rates are bad for gold. Just look at what happened as rates started rising in 2016 for example. Right? Wrong. That was within a greater trend of a flattening yield curve. Today is within a 1.5 year old trend of yield curve steepening. … Continue reading NFTRH+; Yield Curve Begs to Differ
It’s pretty interesting how the November disconnect by gold and silver from the global anti-USD trade turned out to simply be a correction of the previous excess. Very clearly the precious metals got ahead of the game in August and needed to cool down. But they are now resuming their positions in the anti-USD Olympics. This is a beautiful picture (IMO) of how markets enforce … Continue reading Gold and Silver Back on the Anti-USD Wagon
A look at this morning’s futures with brief thoughts on each. The US dollar index is down again, to 89.38 with the next support target at 88 +/-. That is a long-term support zone not visible on this daily chart. USD is what has made the global stock rally tick. Lately gold and silver have been getting back on board the anti-USD trade. The metals … Continue reading NFTRH; 2021 Day 3 (a look at the futures)
