Tag Archives: gold

Gold Falls Like A Rock After BlackRock’s Bullish Call

Last week there was an article in BlackRock blog about golden days for gold. Gold has fallen 4.2% since straight down. This adds to a long list of faded calls by the market.

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Goldbug Tricks in the Era of Cryptocurrencies and Deflation

When the stock market rallies, goldbugs scream loud “financialization of commodities.” When the stock market falls, they scream loud “recession”. These are difficult times for goldbugs and for these memes to scare investors. Precious metals are in trouble in the … Continue reading

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Gold at a Critical Juncture

Unable to rebound, gold is now at a critical juncture, trading this morning just above $1200. Price action is weak with the 14-day Relative Strength Indicator (RSI) at 40.38. Major support is near $1180.

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Gold Testing a Crucial Fibonacci Retracement Level

After a 61.8% Fibonacci retracement of a three-year rally, a base for a rebound was formed near 1,150 and prices are now testing the 50% Fibonacci retracement level near 1,300. This is a crucial test and its outcome will decide … Continue reading

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Dumping Gold to Buy Equities Has Paid Handsomely

Some investors and funds decided to increase their gold holdings near the end of last year fearing a decline in stocks. Gold rallied as a result with GLD returning 14.6% by March 14 when the total return of SPY was near … Continue reading

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A Not So Surprising Drop in Gold Prices

Although some analysts thought yesterday’s drop in precious metals was surprising, there were plenty of technical warnings that a correction was looming. As a matter of fact, last Friday we warned about the possibility of a bull trap in GLD.

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An Island Reversal Squeezes Out Death Cross Shorts in Gold

This blog has warned about a short squeeze coming in gold in this June 11 post. It is interesting how an island reversal, which is a classical chart pattern, invalidated a 50-200 moving average death cross and a descending triangle.

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High Probability of a Short Squeeze in Gold

After a death cross occurred, GLD dropped -1.8% but found support and has since gained +1.4%. The possibility of a short squeeze in GLD is real because the death cross was too obvious of a signal. If in addition the stock market … Continue reading

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