Texas Precious Metals

  • Gold Sitting at Equilibrium - GoldPrice.com

    GOLD

    Since mid-August, sales in the physical precious metals market – red hot at the peak of the COVID outbreak – have begun to taper off slightly. This slowing of demand is directly correlated to price action. I will focus on gold specifically.  Read More

  • Inflationary Winds Blowing Across All Assets

    In a stark reversal from the collapse of nearly every market just six months ago, the winds of inflation have pushed the sails of those same markets back to new (or near) all-time highs. The rebound from Covid has been a V-shaped recovery, not an L-shaped, W-shaped, U-shaped, or some-other-letter shaped recovery. The move in asset prices should not be conflated with an underlying economic return to normalcy - far from it. The rebound is simply a commentary on price.

    Let’s start with my favorite markets - precious metals: Read More

  • Gold, Silver, USD: Where to Next?

    The precious metals market is very clearly in a secular uptrend and prices look poised for further significant upside into the end of the year. My technical view is that in the short term prices have gotten a bit extended and that a pull back/consolidation is due (and healthy) to build the base for the next leg higher. Read More

  • Big Breakouts Across Metals Complex: Gold, Silver, Miners

    Precious metals prices broke out this morning above key resistance levels in the mining sector as well as the underlying futures market for the raw metal.

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  • Silver Setting Up for Third Push to $18.90

    Silver has been a shining star in the metals complex since the March low of $11.60, outperforming all other metals on its run to $18.90/oz. The upside leadership was a welcome sign for precious metals bulls, as silver tends to be a bellwether for bullish appetite in the space.

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  • Gold and Silver Coiling for a Move

    It has been over a month since my last entry on the markets, and aside from a few Twitter posts, most of my analysis has been confined to my desktop. The impact of the coronavirus on the retail precious metals market has been historic, with dueling supply and demand shocks, and as president of Texas Precious Metals, my time has been consumed by day-to-day operations. I finally have a bit of a respite this afternoon to share a few thoughts on the metals markets. Read More

  • COVID-19 risks shut down U.S. Mint gold silver bullion production at West Point

    (Kitco News) By Neils Christensen - The physical gold market has been dealing with significant supply issues and the crunch is going to get bigger as the U.S. Mint announced that it is shutting down gold and silver bullion production at its West Point Facility.

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  • Gold Dealers Report Big Shortages of Small Bars and Coins

    By Elena Mazneva on Bloomberg.com

    When people are worried about the future they turn to gold to protect their savings. That’s rarely been more true than today.
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  • Historic Bounce in Gold at Key Fibonacci Level
    • Posted on March 25, 2020
    • By TPM
    • General

    Given the extreme recent demand in the precious metals markets, this is the first opportunity I have had to reflect on the charts. For those interested in my thoughts on rising premiums and the cause for falling spot metal prices in early March, please refer to the articles linked.
    I want to review price action in gold. Below is the long term, 40-year semi-log chart of gold weekly futures. I have drawn my fibonacci levels from the secondary high in 1980 ($720) to the bottom in 2001 ($250). The story is as follows:

    • Following a 20-year bear market, gold began its bull market after 9/11, with price finally retesting the secondary high at $720 before a pullback to the 61.8% Fibonacci retracement.
    • Support held there, and a second leg to a new all-time high at $1030 (161.8% extension) commenced before a retest of the $720 level at the 2008 bottom of the Great Financial Crisis (formerly resistance, now support).
    • The subsequent bull move took gold to new all-time highs at $1910, stopping perfectly at the 361.8% fibonacci extension.
    • The ensuing bear market backtested all the way to the prior peak at $1030 (161.8 extension) before finally breaking above the 261.8 extension in August of 2019.
    • Since August, gold has peaked at $1700, and the recent liquidity driven sell-off has simply backtested the breakout at $1450 (261.8 extension), where we have seen a powerful and historic rally this week of over $250 in two days.

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  • Canadian Mint Shut Down! End of Week Update
    • Posted on March 20, 2020
    • By TPM
    • General

    Dear customers,

    I would like to offer you one final update for the week.

    Before I begin, my team has requested that I send a big ’Thank You’ to all of you who have called in this past week. In the midst of a very challenging week, with slower-than-usual response times, changes to billing and shipping methods, out-of-stock inventory, and other inconveniences - in what is admittedly a stressful time for many people - nearly every customer has been gracious, patient, accommodating, and diligent in providing information. We appreciate y'all. Personally, I want to especially recognize our accounting manager, Kris Hauptman, who has been working day and night (sometimes until 4am) taking personal responsibility for processing all of your payments. Thank you Kris!

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