Library

  1. Silver Breaking Out

    Silver Breaking Out

    The month of November was a bit of a roller coaster for metals bulls, as price appeared to breakout, only to reverse on vaccine news and become extremely oversold by mid-December. All the more frustrating was the continued sell-off in the US dollar, which many expected to spark the next leg higher in metals prices, but new lows in the dollar coincided with multi-month bottoms in metals. Meanwhile, all attention has since returned to bitcoin, which broke out to all-time highs while metals remained in consolidation mode. So, where are we now?


    Read more
  2. Metals: What Happened?

    Metals: What Happened?

    In my last post, I commented on the strong breakouts in metals out of bull wedge consolidations. These breakouts were ultimately short-lived and quickly reversed on vaccine news, washing out swing longs and once again pushing price lower to another test of falling resistance. The thesis from that post remains intact – metals continue to remain in strong uptrends with price likely to push to higher highs – but in the near term price continues to digest supply and needs more time.


    Read more
  3. Silver Setting Up for Third Push to $18.90

    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.

    Read more
  4. Gold and Silver Coiling for a Move

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

    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.

    Read more
  6. Gold Dealers Report Big Shortages of Small Bars and Coins

    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.

    Read more
  7. Mid-month Gold Update

    Mid-month Gold Update

    Trend Remains Strong and Intact

    Price action in gold has traded in a narrow window over the past few weeks, winding into a tight coil as it begins to consolidate for another leg higher. The wave counts suggests that gold is in the early stages of a Wave 5. In the chart above, the key near term level to watch to the downside is $1540. This level served as resistance in September 2019, and has been support for the last month. This level also roughly coincides with rising support from the uptrend channel that commenced in August 2018.

    Read more
  8. [VIDEO] US Housing Looking Very Bullish? – Jan 30th, 2020

    [VIDEO] US Housing Looking Very Bullish? – Jan 30th, 2020

    Bullish Tailwinds in US Housing

    In this video, I review key technicals in the US housing market, specifically the real estate ETF REZ, home construction ETF ITB, mortgage rates and lumber. I also explore some key demographic trends that could help fuel the rise in the US housing market.

    Read more
  9. [VIDEO] Silver Update – Silver Testing Rising Channel Support

    [VIDEO] Silver Update – Silver Testing Rising Channel Support

    Silver Testing Key Level

    In this video I take a look at the prevailing long and short term trends in the price of silver. While the decade-long trend remains down, the one year trend remains up. Yesterday’s .60 drop in price now has silver testing rising channel support from the bottom in May 2019. Bulls will want to see this price hold for another leg higher. If price breaks down from this rising support, the key levels are 16.90 and 16.20. Bulls especially need silver to remain above 16.20 for the longer term bullish picture to remain in play.

    Read more
  10. [VIDEO] Market Update - Dr. Copper Looking Very Sick - Jan 27, 2020

    [VIDEO] Market Update - Dr. Copper Looking Very Sick - Jan 27, 2020

    Failed Breakout Disconcerting for Commodity Bulls

    In early January I got very bullish copper as price was breaking out of a multi-year symmetrical triangle. The trade worked well initially, but price subsequently reversed and fell precipitously. In this video, I take a look at this price action, explain how I build a chart, and what the copper price means for the commodities sector.

    Read more