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Metals News and Commentary

Thu, Jun 24th, 2021
Precious Metals Close Lower on Dollar Strength and Record High Stocks

August gold (GCQ21) on Thursday closed down -6.70 (-0.38%), and July silver (SIN21) closed down -0.061 (-0.23%). Gold and silver prices on Thursday posted modest losses on a stronger dollar and a rally...

Powell Didn’t Come to Gold’s Rescue – What Now?

Powell’s testimony to Congress failed in generating a rebound in gold prices; thus, the bearish trend could continue.

Precious Metals Fall Back on Dollar Strength and Record High Stocks

August gold (GCQ21 ) this morning is down -5.70 (-0.32%), and July silver (SIN21 ) is down -0.071 (-0.27%). Gold and silver prices this morning are slightly lower on a stronger dollar and a rally in the...

GCQ21 : 1,776.7s (-0.38%)
SIN21 : 26.050s (-0.23%)
Precious Metals Close Higher on Mixed U.S. Data, and Silver Finds Support on Strong Global Manufacturing Activity

August gold (GCQ21 ) on Wednesday closed up +6.00 (+0.34%), and July silver (SIN21 ) closed up +0.254 (+0.98%). Gold and silver prices on Wednesday closed moderately higher.  Early weakness in the...

SIN21 : 26.050s (-0.23%)
Precious Metals Gain on Dollar Weakness and Silver Finds Support on Strong Global Manufacturing Activity

August gold (GCQ21 ) this morning is up +11.20 (+0.63%), and July silver (SIN21 ) is up +0.338 (+1.31%). Gold and silver prices this morning are moderately higher.  A weaker dollar today is boosting metals...

GCQ21 : 1,776.7s (-0.38%)
SIN21 : 26.050s (-0.23%)
Dollar Weakness Boosts Commodities

Actionable ideas Crude, Gold, Silver, and more . . .

New All-Time Highs In May Lead To Price Carnage In June

The three commodity futures markets that reached record highs in May turned south in June. The corrections began before the Fed set the stage for a shift in monetary policy, but the prospects for rising...

LSN21 : 842.30s (-4.75%)
HGN21 : 4.3110s (-0.45%)
PAU21 : 2,643.90s (+0.51%)
Fed's Liquidity Circus and Gold

Fed pumped so much money into the financial system, that the latter started sending it back. How will this and Fed’s more hawkish tone impact gold?

GOLD Elliott Wave Analysis - Targets 1750-1720 Level

Gold is making bigger and deeper decline which for now still has a three wave structure and can be corrective if we consider an extended wave C)

Precious Metals Settle Lower on Dollar Strength and Low-Inflation Fed Comments

August gold (GCQ21 ) on Tuesday closed down -5.50 (-0.31%), and July silver (SIN21 ) closed down -0.168 (-0.65%). Gold and silver prices on Tuesday posted moderate losses.  Strength in stocks on Tuesday...

GCQ21 : 1,776.7s (-0.38%)
SIN21 : 26.050s (-0.23%)
Will Gold Survive Hawkish Fed?

The recent Fed’s hawkish turn is fundamentally negative for gold prices but there is still some hope.

Precious Metals Slightly Lower on Dollar Strength and Low-Inflation Fed Comments

August gold (GCQ21 ) this morning is down -2.40 (-0.13%), and July silver (SIN21 ) is down -0.125 (-0.48%). Gold and silver prices this morning are slightly lower.  Strength in the dollar today is undercutting...

GCQ21 : 1,776.7s (-0.38%)
SIN21 : 26.050s (-0.23%)
Precious Metals Close Moderately Higher on Dollar Weakness and Dovish Central Bank Comments

August gold (GCQ21 ) on Monday closed up +13.90 (+0.79%), and July silver (SIN21 ) closed up +0.056 (+0.22%). Gold and silver prices on Monday closed moderately higher.  A weaker dollar on Monday supported...

GCQ21 : 1,776.7s (-0.38%)
SIN21 : 26.050s (-0.23%)
Have Gold Stocks Lost All Their Vigor?

Gold sank profoundly on Jun. 17, taking its crew along. While it has the strength to go up for one more breath, other PM assets may not be that tough.

Fed Didn‘t Tame Inflation

As resilient as it had been before Wednesday, S&P 500 met selling pressure on Friday, including the best performing tech sector. Bullard‘s comments on the „inflation surprise“ and first rate hike...

Silver Declines But Remains Above Technical Support

The silver price slipped in the aftermath of the June FOMC meeting. However, the precious metal remains well above the critical support level at the July 2016 peak, which was the breakout level in 2020....

SIN21 : 26.050s (-0.23%)
Precious Metals Push Higher on Dollar Weakness and Dovish Central Bank Comments

August gold (GCQ21 ) this morning is up +16.80 (+0.95%), and July silver (SIN21 ) is up +0.091 (+0.35%). Gold and silver prices this morning are moderately higher.  A weaker dollar today is supporting...

GCQ21 : 1,776.7s (-0.38%)
SIN21 : 26.050s (-0.23%)
Can Crude Extend and Metals Rebound?

Actionable commodity ideas, Crude, Gold, Silver, and more . . .

Natural Gas joins Crude Oil and Heating Oil as the most "Expensive and Overbought" Energy and Metals Markets

The hawkish FED comments helped push Gold in the "Expensive and Oversold" quadrant

Precious Metals Settle Mixed on Dollar Strength and Lower Global Bond Yields

August gold (GCQ21 ) on Friday closed down -5.80 (-0.33%), and July silver (SIN21 ) closed up +0.113 (+0.44%). Gold and silver prices on Friday settled mixed.  A rally in the dollar index to a 2-month...

GCQ21 : 1,776.7s (-0.38%)
SIN21 : 26.050s (-0.23%)

Barchart Metals News

Precious Metals Close Lower on Dollar Strength and Record High Stocks
August gold (GCQ21) on Thursday closed down -6.70 (-0.38%), and July silver (SIN21) closed down -0.061 (-0.23%). Gold and silver prices on Thursday posted modest losses on a stronger dollar and a rally in the S&P 500 to a new record high, which curbs safe-haven demand for precious metals.  Silver... Read more

Chart of the Day

Steel Partners Hlds (SPLP)

The Barchart Chart of the Day  belongs to an underfollowed industrial conglomerate Steel Partners (NASDAQ: SLP ).   I sorted Barchart's All Time High list first by the highest Weighted Alpha, then used the Flipchart function to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 3/9 the...
Read More

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