Tag "gold chart"

Gold COT Report: Can the Bulls Defend $1300?

The following chart and data highlight non-commercial commodity futures trading positions as of May 1, 2018. This data was released with the May 4 COT Report (Commitment of Traders). Note that this chart also appeared on my blog. The chart below looks at non-commercial futures trading positions for Gold. For the week, the…

Patient GOLD Bulls Continue to Wait for a Breakout

The following chart and data highlight non-commercial commodity futures trading positions as of April 10, 2017. This data was released with the April 13 COT Report (Commitment of Traders). Note that these charts also appeared on my blog. The chart below looks at non-commercial futures trading positions for GOLD. For the week, spot…

Gold Is Knocking… Will Metals Bulls Answer?

Is gold ready for primetime? The shiny metal is testing the $1360-$1370 level for the fourth time this year. One factor that has helped to keep Gold elevated is a weaker U.S. Dollar.  The chart below highlights the Gold/U.S. Dollar ratio. Metals bulls want/need to see this ratio heading higher…

A Breakout Here Could Produce Another Gold Rush

Gold prices have chopped higher since bottoming in December 2015. The move has not been as exciting as precious metals bulls would like but its followed a trend of higher lows nonetheless. During the same time frame, Gold has tested the $1360 – $1375 price level on multiple occasions –…

Gold Trading Update: Bullish Action Continues

Gold Trading Outlook: Near-Term Bullish Gold and Silver are moving above key trend lines and look poised here. Looking at Gold specifically, it looks ready to test its 52 week highs. Look for a retest of 1360-5 in the days ahead. In my opinion, this level will likely be broken…

Gold Bulls Hope This Ratio Provides Best Message In 7 Years!

Most investors are familiar with the relationship between the U.S. Dollar and Gold. Gold bulls like a weaker U.S. Dollar as it provides a tailwind for precious metals. Here’s a prime example: Over the past 15 months, the US Dollar is down 14 percent. During that same time, Gold is…

New Gold Bull Market Starting? Not So Fast…

Today, I want to provide a quick update on gold trading and the iShares Gold Trust (GLD). Gold has been meandering beneath major price resistance. So what’s going on here? On the weekly chart, the yellow metal remains in a volatile sideways pattern, which may be a very large inverse…

Gold Trading Update: Overbought But Indicators Bullish

In our recent article, we looked at the strong seasonal tendency of Gold (GLD) to outperform during the month of January. The Gold ETF (GLD) bottomed in mid-December and rallied almost continuously until the start of January, where it consolidated around the 125 level. Since then, GLD appears to have…

Gold/Dollar Ratio Testing 800 Pound Resistance Here!

It’s been a while since gold bulls were able to celebrate something more than a swing trade. Will 2018 bring gold bulls the breakout they’ve been patiently waiting nearly 5 years for? Since the 2011 top, there has been plenty of failed rallies and sideways grinding. But the last 13…

Precious Metals Update: Gold Bulls Patiently Waiting

The iShares Gold Trust (GLD) rallied into year-end and is now in a consolidation. Gold bulls (especially near-term) are patiently waiting for its next move. A breakout of the recent consolidation would put 130-135 in view for the Gold ETF (GLD). On the GLD weekly chart, the yellow metal remains…