Based on my analysis of gold, GDX as well as the US Dollar & other major currencies, while the longer-term outlook for gold remains bullish it appears that the odds favor a pullback in gold & the precious metals stocks along with a bounce in the US Dollar in the coming days to weeks. [...]
Precious metals (gold, silver, platinum) & the related mining stocks have the potential be one of the more promising swing trading opportunities in 2017. Last year was marked by a very strong rally in gold, silver & the PM mining stocks that kicked off right around the beginning of the year, peaking out around mid-year [...]
In addition to investment grade bonds (treasuries, munis & BBB+ rated corporate bonds) which were covered in yesterday's post, a few other potential bottoming plays that stand out at this time are gold, silver & the related mining stocks, cannabis stocks and some the major currencies (vs. the US Dollar) such as the Euro, Yen, [...]
Gold & the precious metal mining stocks are at resistance while overbought on the near-term time frames while the US Dollar looks poised for a bounce. As such, the odds for a pullback or correction in GLD & GDX are quite elevated at this time. This video starts with an overview of the two largest [...]
The USD/JPY (Dollar/Yen currency pair) has triggered the anticipated breakout above this bullish falling wedge, which is a bullish technical event for the US Dollar as the Yen is the second largest component (13.6% weighting) of the US Dollar Index. Horizontal lines mark potential resistance/target levels. The USD/JPY has so far played out exactly as [...]
It is clear that the recently on & off inverse correlation between the US Dollar and gold prices has once again returned, with a near perfect inverse correlation lately as the dollar & gold react to any economic releases that could impact the next FOMC rate decision. Therefore, if you want to know where gold [...]
This video makes a case for a trend reversal & near-term rally in the US Dollar along with a near-term bearish case for gold, silver, platinum, copper and other dollar sensitive assets, all of which still appear bullish from a longer-term perspective at this time (longer-term bearish $USD).