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Gold Stocks at Yearly Lows

January 9, 2018, 6:57 AM Przemysław Radomski , CFA

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It’s not a huge achievement to move to a yearly extreme if there have only been 5 sessions in the year so far, but still, GDX and HUI ended yesterday’s session well below all the previous closes this year. This, by itself, is not that important, but when we consider that gold declined by less than $2 yesterday, it becomes a major signal. A sell signal.

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Feb Market Overview

Gold Market Overview

In this edition of the Market Overview, we will examine what the Great Unwind implies for the U.S. dollar and gold. The tightening of monetary policy and higher interest rates could be negative for gold, but more hawkish BoJ and ECB would mean narrower divergence in monetary policies between the Fed and other major central banks.
We will answer the question of why the American currency has been falling like a stone recently, despite the Fed’s tightening cycle. We will also explore the historical bull and bear cycles in both gold and the U.S. dollar, as trend in this currency is likely to be the vital driver in the gold market in 2018.

Read more in the latest Market Overview report.

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