Commentaries

  • Within the extreme carnage in the U.S. equities markets, both gold futures and spot pricing remained in an upswing. Although any rise within both of those precious metals were tepid at best and also affected by a stronger U.S. dollar that gained value since hitting it’s low on Friday. After the U.S. dollar traded to a high of above 103 on the dollar index it had five consecutive days in which it traded lower, with Friday containing the lowest low since the week of March 9th when it traded at app

  • While we have gold, prices come under substantial pressure over the last two weeks it had still managed to hold above key level of $1600 per ounce. This is in conjunction with U.S. equities markets trading under great pressure as they have lost value throughout this month. According to Reuters, “Wall Street’s three major indexes tumbled on Tuesday, with the Dow registering its biggest quarterly decline since 1987 and the S&P 500 suffering its deepest quarterly drop since the financial crisis

  • Today the Congress passed a $2 trillion stimulus bill, after the Senate approved the bill yesterday, and was signed today by President Trump. This bill was passed to help support the economy in the United States, as well as American workers by allocating approximately $2 trillion. This bill even set aside $350 billion in forgivable loans to help small businesses that have been hardest hit by the virtual shutdown of the United States. Adults with incomes under $75,000 annually will receive a onet

  • As of 5:07 PM EST gold futures basis the most active April contract is currently trading up $6.10 (+0.37%) and fixed at $1639.50. Although gold opened slightly above yesterday’s close, today’s close was below today’s opening price. Also noteworthy is gold continues to have an exaggerated price range, as today’s pricing created a lower low, and a lower high, when compared to yesterday’s price action. Gold traded to a low of $1611 and a high of $1672.50 today. However, the real picture is not the

  • The rally which began in gold yesterday continues, now in its second day with substantial gains. After yesterday’s $60 advance which took gold pricing from $1507-$1567 ignited the second stage thrusters as it achieved terminal velocity and entered the stratosphere on its journey to the stars and even higher pricing. As of 5:41 PM EST gold futures basis the most active April contract gained $101.40, a 6.47% gain and is currently fixed at $1669.00. Last night fast market conditions continued with

  • Today gold pricing skyrocketed and broke strongly above Friday’s close. This incredibly strong move is based upon the release of a statement by the Federal Reserve at 8:00 AM EST, and the inability for the government to agree on a proper fiscal stimulus package. As of 5:20 PM EST gold futures are currently trading up by $78.20, which is a 5.26% move to the upside, and fixed at $1566.30. Gold futures traded to a high of $1574.80 before backing off to current pricing. Gold was not the only preciou

  • Over the last couple of weeks, the safe haven assets particularly gold have been selling off as part of a mass liquidation of all asset groups following the U.S. equities reaction to the coronavirus pandemic and actions being taken worldwide. Historically speaking when you look at other crisis this one stands alone with some major distinctions. In times such as Black Monday on October 19, 1987, or the 2008 banking financial crisis, initially you had gold trading lower as Mass liquidation began.

  • Gold continues to fall in the presence of extreme dollar strength which is dictating most of the net change within the precious metals complex. As of 6:15 PM EST the dollar is currently up almost 2%, with the index currently fixed at 103.56. The last time we saw the U.S. dollar have this kind of strength was in January 2017 when it hit a high precisely where the dollar index is trading currently just above 103. During this last week alone the dollar index traded from a low of 97.70, and is curre

  • Yesterday U.S. equities had their deepest and most brutal decline since black Monday which occurred on October 19, 1987. At the same time gold opened higher in Australia, and then began to selloff as it traded in New York. It traded to a low of approximately $1450 before recovering back above $1500. The one constant that we have seen rise is the volatility index for both gold and U.S. equities. The Federal Reserve played a big part in today’s recovery of both gold and U.S. equities. Today they a