Gold News

Anyone who follows gold with any regularity knows how important the price of the dollar is relative to the price of gold. If the dollar dips, it’s gold that benefits. But will the precious metal see a strong dollar in 2018, particularly as the Federal Reserve looks
First published on Sunday Dec 17 for members of ElliottWaveTrader.net:  The metals have been exhibiting as an actor in a soap opera would.  They have taken us to the edge of our emotions on each and every swing, as they take us to the edge of each of our s
As we close in on Christmas and the new year to follow, it’s only natural to look around at the prices in the economy and wonder how close they’ll end up being to their final 2017 performance. At the top of that list: our curiosity about gold, and whether or not the
How high can gold rally? To $1,270 - $1,290. That’s what we wrote on December 14. Stockcharts’ intraday high for yesterday’s session is $1,271.40, which means that our target area has already been reached. However, gold will remain in the target area even if the rally c
In 1988, the UK magazine, The Economist forecast that 2018 would be the year of a new currency which they named the Phoenix. Quite a mind boggling prediction 30 years ago really, especially since 2018 in fact looks like a year when a major currency upheaval could ta
After three weeks of declines, gold finally moved higher last week. Was this move surprising? Not at all, if you read our analysis of the previous week’s huge decline in platinum. The sizable slide in the latter was likely to trigger at least a small rally and that’s wh
After peaking in 2011 gold entered a prolonged correction. Prices bottomed in 2015 when the FED increased rates for the first time since 2006. Gold prices rallied sharply in 2016 and 2017, but failed to produce a sustained uptrend. The multi-year basing pattern is nearl
For the last couple of weeks we have been tracking improving gold and silver Commitments of Traders (CoT) data, noting that a seasonal low (on historical average) is in the offing and also ongoing tax loss selling as reasons to expect a bounce or even a significant
In recent days the gold stocks (GDX, GDXJ) traded within 1% of our downside targets of GDX $21.00 and GDXJ $29.50. Last week we wrote: “the miners are getting oversold and a bounce could begin from those levels.” GDXJ troughed first last week at $29.84 while GDX printed
With the year coming to a close and the Federal Reserve calling in another interest rate hike in another bout of optimism for the economy as a whole, things don’t necessarily look good for gold. The precious metal—seen as a hedge rather than a key indicator for economic

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