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Sign of the Apocalypse in the Gold Market?

Sign of the Apocalypse in the Gold Market?

Mike Hammer November 17, 2016 0

Folks looking for signs of the apocalypse had a moment yesterday as UBS announced the closure of open gold counters in 3 major locations. Conspiracy theorists would say this is the beginning (or continuation)

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Giant Gold Fund GLD Shrinks Fastest Since 2013

Giant Gold Fund GLD Shrinks Fastest Since 2013

Mike Hammer November 16, 2016 0

In the wake of the US elections the world’s the biggest gold ETF shrunk 3%.  George Soros announced last week that he sold his holdings before the election, possibly leading to a chain reaction

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Gold Still Tied to US Dollar

Gold Still Tied to US Dollar

Mike Hammer November 15, 2016 0

As readers of The Gold Enthusiast know, the price of gold in the USA is closely related to the value of the US Dollar in the currency market.  Much of the recent plunge in

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GLD and NUGT Plunge – Should You Worry?

GLD and NUGT Plunge – Should You Worry?

Mike Hammer November 14, 2016 0

In the aftermath of the US elections, precious metals plunged Wednesday through Friday.  As I write this – before market open on Monday – gold looks to be trying to find support at 1210 per oz.  Which is translating

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Gold Drops Below 200 Day Moving Average

Gold Drops Below 200 Day Moving Average

Mike Hammer November 11, 2016 0

After this very eventful week, let’s slow down and take a purely technical look at what’s happened to the price of gold. Following a big pop up on Wednesday, gold quickly fell back and closed

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Gold Swings, Settles Back Into Groove

Gold Swings, Settles Back Into Groove

Mike Hammer November 10, 2016 0

Gold trading took a wild ride yesterday following Trump’s win. The generally-unexpected result in the US presidential election qualified as a “geopolitical event”, meaning something that affects international conditions. Certainly Trump’s campaign platform included

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Gold After The US Election

Gold After The US Election

Mike Hammer November 9, 2016 0

As expected, gold jumped after Donald Trump was declared the winner of the US presidential election. But was the move significant? The Gold Enthusiast thinks not. We will continue to say “the charts don’t

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India Gold Sales Slumping?

India Gold Sales Slumping?

Mike Hammer November 8, 2016 0

India’s “gold season” is well underway.  Early reports were that gold sales were stronger than expected.  Now more reports are indicating early sales rates may not be continuing.  When I was working in department

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Out of NUGT, Just Before Election

Out of NUGT, Just Before Election

Mike Hammer November 7, 2016 0

If you were following along our trade in NUGT, you know we’re out now according to our rules. Last Weds (11/2/2016) NUGT was heading up above 16 at the open, and we recommended moving

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Gold vs Silver Ratios

Gold vs Silver Ratios

Mike Hammer November 4, 2016 0

Periodically you’ll see articles about the gold-silver ratio. The idea is that silver pricing is generally close to the same multiple of the price of gold, and when it gets too far behind it

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