Gold & Silver

Gold Miners Update: How Far Will The Bounce Go?

When a security or asset class gets beaten down, sentiment tends to go in the toilet as well. And this generally supports and leads to a trend of lower prices. But as price reaches the extremes, it becomes susceptible to short covering rallies… and ultimately a bottom when time & price align. Although I’m not calling for the latter just yet, it does appear that the Gold Miners ETF (GDX) fit

Silver Chart Oversold But Weakness Persists

I’ve been tracking the fall in Silver prices for some time now. On August 24th, 2014 I wrote a post on See It Market about why Silver is losing its luster (i.e. heading lower). In that post, the focus was on two key support levels that gave way and technically weakened silver futures appreciably. Here’s a recap: 26.87 as 1st support (broke) 21.455 as 2nd support level (broke) These levels were derived from

Gold Prices Breaking Down, Fall Out Of Range

After I post charts and opinions, I like to go back a few months later and see how things have progressed. Today I’ll be updating some Gold charts that have been posted over the past few months. And more specifically, I’ll be alluding to my July 27th article on Gold Futures where I made the case for lower Gold prices. In that post, the highlights were: A longer-term target of 1033.4. The consolidation

Is Gold Setting Up For A Santa Claus Low?

Gold is getting tons of press recently and I’ve been blogging about the metals for a while. This post is going to go into some of the underlying math currently driving the PRICE action and how a case can be made that the $1050 to $1090 level is going to be very important for Gold prices. And, even more interesting, this level could come into play around around the Christmas

Silver Prices Fall Sharply: Technicals Point To $14

Silver prices continue to drop, as the precious metals sector falls further out of favor. At the time of this writing, Silver futures are trading around $17.50/oz, down 0.34. This drop follows Friday’s steep drop in silver prices and seems to be getting the attention of market participants and followers, including some readers that have tracked my work on Silver. A higher dollar and weak Euro zone seem to be getting most of

Rough Week For Precious Metals: Gold Charts In Focus

The Goldman Sachs Precious Metals Index (GPX), ended the week down another 1.55 percent at 1615.28. This closing price has decisively broken the weekly support of 1652.66 made in June of 2014. The next major support level to watch now is 1584.59, the weekly low made in December of 2013. I have been highlighting this weakness in precious metals for a while and it seems as if investors are finally beginning to take note of

Is The US Dollar Setting Up For Another Move Higher?

The US Dollar has the attention of the global financial markets, especially the commodities sector. Just check out the action in Grains, Oil, and Precious Metals. Earlier this week, I highlighted the weakness in Gold and Silver. Surely a function of a stronger US Dollar. So, is the US Dollar setting up for another move higher? Let’s see what the chart is telling us and check in on some key Fibonacci

Precious Metals Weak: Breaking Down The Charts

Both gold and silver continue to lose favor with investors as evidenced by precious metals continued weakness into September. This also shows up in technical analysis, so let’s review some charts. Starting with a broader look, let’s break down the 3 year chart below of the Goldman Sachs Precious Metals Index (GPX). There are three very important support levels to watch right now: 1589 – The weekly low in June,

Is Silver Targeting 14? The Script Is Playing Out

When beginning to analyze any market and/or security it is recommended one look at the longest time frame possible. The longer-term moves tend to repeat in time or price or both, while giving you a flavor for the potential moves that might be forthcoming. As well, longer-term moves often repeat the same form and proportion. In the case of Silver, a perfect mirror image fold back is in the process

Are Gold Prices Taking Cues From The Swiss Franc?

Three years ago yesterday, I shared a chart highlighting why Gold may underperform for years to come. The chart looked at the correlation between the Swiss Franc and Gold and how both were tagging ascending long-term resistance at the same time. The chart is shown again for your reference below. It was the centerpiece of a post entitled, “Swiss Franc Is Suggesting That Gold Will Be Flat-To-Down For Years To Come!”   Gold vs