I don’t believe today’s precious metals bounce is anything because we are talking about a market that is fixating on scrambling politicians and what ever scheme they will cook up to extend the nation’s ‘Wimpy’ lifestyle… “I’ll gladly pay you on Tuesday for a Hamburger today.”
In this week's letter it was mentioned that a safer buy point on the gold stocks (as represented by the HUI index) would be with a DAILY chart move above…
The world expects the FOMC to update its expectations regarding a tapering of Treasury bond asset purchases tomorrow. The world thinks that a tapering of these purchases would be bad for gold.
I think a decrease in T bond purchases would be anything from neutral to a potential positive (see post coming later today on the matter). Regardless, it is time to be looking out beyond FOMC with regard to the precious metals, a most sensitive sector to monetary policy.
So here is a check list of what we want to see in order to press the bull stance.
Case-based 'White Paper' on the importance of unbiased TA: I would like to repeat the idea that it is best to subordinate yourself to markets at all times. To put…
The reversal from down to up yesterday morning - happening just as yesterday's NFTRH update was being written - followed through for the rest of the day and it did…
The gold miners are on the expected bounce from very over sold conditions. As you can see, HUI, GDM and XAU are all dealing with resistance at the 'neckline' to…
Gold and silver downside momentum is either building into a capitulation and a bottom or the technical damage is going to be obvious. A drop below 1525 puts gold in…
