Commentaries

  • Friday’s dramatic $66 price decline took gold prices below their 200-day moving average for the first time since December 1, 2020. Even more alarming was the fact that after trading to a low of $1828, gold futures traded off the low closing at $1,836 which is four dollars below its 200-day moving average. Today we have seen an increase in volatility and an exaggerated range with gold opening at $1849, a mere $9 above the 200-day moving average, and then trading to an intraday low during the even

  • On Friday, we mentioned Gold could be in trouble, and although we were long and in an uptrend, we were looking for proof that Gold could hold support. We also mentioned that a lower close would trigger and reversal, and it has. We are now short Gold and Silver, while long Platinum. The bigger story for the week was the cryptocurrency world, which saw Bitcoin trade to $42,000 and was joined in the big rally by Ethereum and many of the others. It appears that Bitcoin may be replacing Gold as the p

  • “Been dazed and confused for so long, it’s not true … Lotsa people talkin’, few of them know” – Led Zeppelin, Songwriters: Page, James, Patrick. Many traders and market participants are quite frankly bewildered at the extent of today’s selloff in all the precious metals. You could even say that it is left many gold investors dazed and confused. Market commentators and analysts cited today’s dramatic $66 price drop in gold as a result of U.S. government bonds extending their yie

  • After posting its best annual performance in a decade during a turbulent 2020, gold rang in the new year with a $125 roller coaster ride this week. The price of bullion rallied significantly to kick off the year on Monday, rising over $50 higher above its down trend line as a weak U.S. dollar slipped to 2018 lows. However, this huge gain in the safe-haven metal to begin 2021 was short-lived. Once the Georgia runoff election results showed a Democrat sweep being imminent, risk-on in the marketpla

  • Kitco MEDIA · The Metals, Money, and Markets Weekly by Mickey Fulp – January 8, 2021 Join The Mercenary Geologist Mickey Fulp and Trevor Hall of Mining Stock Daily every Friday afternoon for a recap of metals, money, and markets. Each episode provides commentary on performances and a look ahead to next week’s markets. You can listen to the weekly wrap exclusively at Kitco.com. We trust you will find our podcast of value and hope it becomes a part of your weekly due diligence and rese

  • Eight days into the new year, and we are off to an explosive start! One bitcoin is worth both of my cars, and interest rates are blasting off. Seriously, what could go wrong? The answer is nothing. Some of our clients have six-figure gains on bitcoin futures, and others have been short treasuries and caught the move on rising interest rates. I have been writing that interest rates will continue to increase until the second quarter of 2021, and at that point, you want to shift into gold. That is

  • “Been dazed and confused for so long, it’s not true … Lotsa people talkin’, few of them know” – Led Zeppelin, Songwriters: Page, James, Patrick. Many traders and market participants are quite frankly bewildered at the extent of today’s selloff in all the precious metals. You could even say that it is left many gold investors dazed and confused. Market commentators and analysts cited today’s dramatic $66 price drop in gold as a result of U.S. government bonds extending their yie

  • After posting its best annual performance in a decade during a turbulent 2020, gold rang in the new year with a $125 roller coaster ride this week. The price of bullion rallied significantly to kick off the year on Monday, rising over $50 higher above its down trend line as a weak U.S. dollar slipped to 2018 lows. However, this huge gain in the safe-haven metal to begin 2021 was short-lived. Once the Georgia runoff election results showed a Democrat sweep being imminent, risk-on in the marketpla

  • Kitco MEDIA · The Metals, Money, and Markets Weekly by Mickey Fulp – January 8, 2021 Join The Mercenary Geologist Mickey Fulp and Trevor Hall of Mining Stock Daily every Friday afternoon for a recap of metals, money, and markets. Each episode provides commentary on performances and a look ahead to next week’s markets. You can listen to the weekly wrap exclusively at Kitco.com. We trust you will find our podcast of value and hope it becomes a part of your weekly due diligence and rese

  • Considering yesterday’s sharp decline and rapid recovery in gold prices, today’s trading activity exhibited follow-through strength resulting in moderate gains for gold futures. As of 4:00 PM EST, the most active February 2021 Comex contract is currently up by $6.30 and fixed at $1914.90. This is a net gain of approximately 3/10 of a percent with a high of $1929.60, and a low of $1970.50. There were two major factors that limited gains in gold futures. The first of which was dollar strength, wit

  • On the second trading day of the year gold futures most active, February 2021 Comex contract is fixed at $1952.60. Although today’s gains were meager when compared to yesterday’s dramatic $50 price advance, the importance of today’s gains has to do more with follow-through buying after a stellar performance yesterday, rather than traders moving in to quickly take profits. When the daily gains in gold are extremely strong, typically professionals and money managers use that opportunity to take pr

  • The first day of trading which began yesterday in Australia has resulted in exponential growth of bullish market sentiment in regards to gold pricing. Although the factors that moved gold pricing just over $50 on the first trading day in 2021 have been in existence for quite some time. However, real concern regarding the eradication of the coronavirus through vaccinations and the timeline that would take, coupled with the enormous capital that the U.S. Treasury has already allocated for fiscal s

  • On Thursday we wrote that gold, silver and platinum were attempting to breakout, overnight and this morning they are exploding higher. Gold is up over $40.00, silver over $1.00 and platinum higher by $38.00. This has all appearances of a runaway or the final blow off to the upside. We are long and have been so for most of this rally and will stay there with the algorithms we trade. Looking at it from a pure trader view this could be considered topping action. While we are thrilled to be long and

  • Join The Mercenary Geologist Mickey Fulp and Trevor Hall of Mining Stock Daily every Friday afternoon for a recap of metals, money, and markets. Each episode provides commentary on performances and a look ahead to next week’s markets. You can listen to the weekly wrap exclusively at Kitco.com. We trust you will find our podcast of value and hope it becomes a part of your weekly due diligence and research. May all your trades be to the upside.

  • As of 3:20 PM EST gold futures basis, the most active February 2021 Comex contract, is fixed at $1883.40 after factoring in $3.00 (0.16%) of gains. While on the surface this could be interpreted as traders bidding the precious metal higher, in the case of today’s action it was 100% due to a weak U.S. dollar. The U.S. dollar traded under pressure today down 4/10 of a percent and after factoring in today’s decline of 37 points is currently fixed at 89.905. Simple math tells us that the 0.40% decli

  • All markets move under the same types of circumstances, they trend consolidate and glow off. Watching the metals over the last few days they are in the consolidation phase. This is common considering markets spend about 65% of the time in this phase. The trend is higher for Gold, Silver and Platinum, the fact that they are struggling to breakout to the next level coincides with common action before the next big move.  Our expectations are Gold Silver and Platinum will breakout to the upside cont

  • On Sunday President Trump signed off on the legislation to fund the government avoiding a shutdown that would have begun on Tuesday, coupled with a fiscal stimulus aid package. Collectively the expenditures contained in this bill amount to $2.3 trillion, of which $900 billion is allocated to fund the second stimulus package, and the remaining $1.4 trillion to be allocated to fund the government budget. According to CNN, “Congressional leaders announced Sunday night that they have secured a deal

  • The overnight session was highly active especially for the metals. Gold, silver and platinum were flying high. Gold was up over $20.00, silver over 1.00 and platinum up over $20.00. This morning they have calmed down and given back a large percentage of the gains. Pullbacks are a natural part of the trading cycle, although many may express some concern at the overnight retracement, but trend traders will look at it as another opportunity to buy. We are long across the board and see no reason for

  • First, I want to say Happy Holidays and Merry Christmas to all of you; 2020 was a challenging year for all of us and completely unprecedented. This week started with a bang on December 21st, with silver having a $2.51/oz range and Platinum fluctuating $134.4/oz. One lesson I have learned in 2020 is that volatility can come out of nowhere and at any hour, day or night, and in any commodity. With futures trading nearly 23 hours a day, it might be wise to use resting good-’til-cancel orders t

  • Interesting action in gold pricing today with a divergence of price between spot and futures pricing. As of 4:25 PM EST gold futures basis, the most active February 2020 Comex contract is currently up $6.70, which is a net gain of 0.34% and fixed at $1877. Dollar weakness today is the primary contributor to gains in gold futures. Currently, the dollar index is down 0.29 points which is a decline of 0.32%, and fixed at 90.255. That means that only an extremely fractional portion of today’s price

  • Gold and silver are flying higher this morning. Thankfully, we were able to reverse our positions before this big rally began. We reversed April gold to long on Dec. 8 at $1872 and March Silver on Dec. 17 at $25.95. This morning April gold is trading 1906 and March silver is$ at 27.00. As we have written many times in the past, our trading positions have nothing to do with our long-term opinions of these metals or the fact that we are trying to capture most of the gains in anything we trade. We

  • Sadly, the events that began in March when the Covid-19 epidemic officially became a global pandemic has led to the current state of the economy. Actions by the Federal Reserve and the U.S. Treasury have resulted in a perfect storm of events that have taken gold to its highest price ever in August 2020. The fundamental events that have led to the series of massive rallies in gold and silver are still very much with us. The announcement that multiple pharmaceutical companies have completed their

  • “There’s something happening here. But what it is ain’t exactly clear… There’s battle lines being drawn. Nobody’s right if everybody’s wrong.” Steven Stills Today the primary focus of market participants and investors was the release of the Federal Reserve statement, and the current negotiations to finalize the wording on the bipartisan proposal announced yesterday. This revision is a revamp of the original bipartisan proposal which was presented last week. Although

  • Today the bipartisan coalition which had originally presented an aid package of $908 billion announced a revision that has a much higher probability of being passed and implemented before the end of the year. The new comprehensive aid package was broken into two separate bills; the first bill will require $748 billion and contains only the components that both democrats and republicans have already agreed upon. The second bill will entail $160 billion to fund the components that cause negotiatio

  • Although the European Central Bank (ECB) meeting on Thursday disappointed gold investors looking for a larger stimulus boost, the ECB expanded its debt purchase program and agreed to provide banks with ever more ultra-cheap liquidity, as long as they keep passing the cash onto companies. The ECB also said it is monitoring the euro’s exchange rate with regard to its possible implications for their medium-term inflation outlook. Gold remained under pressure following this announcement yesterday, w

  • Investing in gold and silver mining companies is challenging but offers substantial rewards for investors with an edge. Of all the sectors I have covered, it is hands-down the toughest area in which toperform. Nevertheless, astute investors have been able to amass substantial wealth by owning and trading gold mining equities. The reasons why the gold equities sector is challenging are numerous. It is a small sector by any standard. We estimate that the aggregate market capitalization of the worl

  • Gold futures scored moderate gains in trading today, with the February 2021 Comex contract trading to a low of $1826.80 before recovering and closing with gains for the day, and a fractional gain for the week. As of 4:20 PM EST gold futures are currently fixed at $1842.90 after factoring in a net gain of $5.60 (+0.29%). On Thursday, December 10, the U.S. Food & Drug Administration’s panel of experts voted on the emergency use of the Pfizer-BioNTech coronavirus vaccine. The FDA’s advisory pan

  • Kitco MEDIA · The Metals, Money, and Markets Weekly by Mickey Fulp – December 11, 2020 Join The Mercenary Geologist Mickey Fulp and Trevor Hall of Mining Stock Daily every Friday afternoon for a recap of metals, money, and markets. Each episode provides commentary on performances and a look ahead to next week’s markets. You can listen to the weekly wrap exclusively at Kitco.com. We trust you will find our podcast of value and hope it becomes a part of your weekly due diligence and re