Gold & Silver

Silver Futures: Smart Money Betting On Another Leg Lower

Commercial hedgers have never had a larger net short position in silver futures. We talk about investor sentiment fairly often in these pages. Of course, sentiment analysis is well known for its “contrarian” nature, i.e., that “fading” the crowd often ends up being the correct move. What folks often get…

Is Silver On The Cusp Of A New Bull Market?

Silver Starting To Shine Again Probably a lot of people look at the longer term chart of silver and the first thing they see is the massive bull market that peaked in 2011, rising over 400% off the 2008 bottom and almost 10x off the early 2000’s bottom.  It’s tempting…

3 COT Report Charts For Commodities Traders

The following is a recap of the March 31 Commitment of Traders Report (COT) released by the CFTC (Commodity Futures Trading Commission) looking at Commitment of Traders data and futures positions of non-commercial holdings as of March 28. Note that the change in COT report data is week-over-week. Excerpts of this…

Gold Trading Update: Eyeing Bonds & The U.S. Dollar

The trading setup for gold is very interesting here. At this point, there are a lot of “ifs” for this trade working out. The COT data for gold is only slightly bullish. Yet intermarket analysis looks promising:  If yields are topping here (bond prices bottoming), and the US dollar rolls over…

Stock Market Futures Weekly Trend Outlook – March 6

THE BIG PICTURE  Serious Open Gaps! For weeks now I have been commenting on how relentless the market has been without any durable pullbacks.  Even in week 9 the market managed to push up to higher highs once again… but caution remains as key events on the horizon may be just the…

Gold Futures & Miners Decline Again: What’s Next?

This week the Gold Miners (NYSEARCA:GDX) have been hit hard, and Gold (NYSEARCA:GLD) itself has seen some downside follow through. So what’s next for the yellow metal? Gold is in an interesting position. I see two possible scenarios: 1) The strength can continue upon a breakout above ~1,300 and ultimately…

The Gold Market Is Getting Complacent: Watch This Chart!

A little too quiet for Gold… Gold came to my attention for a couple of reasons this week. First was the sentiment signals in the latest sentix survey – I tweeted the chart here.  Second I decided to feature it in the latest edition of the Tuesday Macro Technicals report. I…

Bitcoin Trades Near Parity With Gold (chart spotlight)

While Gold (NYSEACA:GLD) has been on a tear in 2017. But as Bloomberg noted last week, Bitcoin is closing the gap! Gold is trading at $1,258 an ounce while the cryptocurrency (CURRENCY:BTC) is trading near the narrowest gap in history at $79 below spot gold prices. Earlier in 2017, Bitcoin…

Gold Chart Update: Bulls Look To Power Through Resistance

After a second wave higher in the 2017 rally, gold prices spent much of last week trading in consolidation mode. Although the backdrop is bullish, the shiny metal nears key price resistance. Gold Price Resistance The SPDR Gold Shares (NYSEARCA:GLD) is sitting just under minor chart resistance near 118. And just…