by Brian Schad | Sep 6, 2016 | Gold Futures, Hard-Asset Investments, Precious Metals Trading
Gold futures leaped over $11 per ounce this morning from the European trade amid expectations the Federal Reserve will not raise interest-rates at their next policy meeting this month. Gold futures are up over $17.50 per ounce today currently trading at $1,344.4 per ounce at the New York Commodity Exchange. In the wake of last week’s disappointing US employment data, investors are reportedly pricing in a “27%” chance for a rate-hike when the Fed’s meet on September 20-21 — according to Investing(dot)com’s “Fed Rate Monitor Tool.” Although expectations for a near-term rate hike this month have been scaled back, investor sentiment still heavily favors at least one more rate hike before year’s end. “Sentiment in the gold trade feels as if the Federal Reserve ‘needs’ to hike interest-rates, however the data just doesn’t support that action at this time,” said Barb Levy, chief director for The Fox Group’s futures division in Chicago, sharing her fundamental assessment of the gold futures market. Levy added, “If the rates were to be hiked later this month, it would force investors to rethink the Fed’s stance on how they will revive this economy.” Despite today’s spike higher, the trend for gold futures remains down. If gold futures were to trade for two more days higher, then this could possibly resume the trend higher toward the July $1,377 high. ALL COMMENTARY IS CONSIDERED OPINION & VIEWS FROM THE AUTHOR AND NOT A SOLICITATION OF ANY SECURITIES. THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL...
by Brian Schad | Jul 20, 2016 | Gold Futures, Hard-Asset Investments, Precious Metals Trading
Gold futures extended their losses today from this month’s earlier highs at $1,375 reportedly due to continued progress in a strengthening US Dollar. Gold futures are down $17.50 today currently trading at $1, 314.80 per ounce at the New York Commodity Exchange. The 1% fall in gold prices today occurs ahead of Thursday afternoon’s big announcement by the European Central Bank’s Governing Council regarding a possible interest-rate hike, as well as the US Dollar sticking near four-month highs. This is the central bank’s first decision on the future of European interest-rates since the Brexit vote last month. Gerry Plotkin, a Senior Market Strategist for R.J. O’Brien in Chicago, shared his fundamental view of the gold futures market by stating, “The gold (futures) market continues to compete with high-yield bearing assets in an environment of rising rates.” Plotkin adds, “Bullish investors most likely will be satisfied to see a gradual tightening of monetary policy.” Gold futures trend remains “up” despite today’s big down day. A couple of more days like this for gold futures and we might have to reevaluate gold’s overall direction. ALL COMMENTARY IS CONSIDERED OPINION & VIEWS FROM THE AUTHOR AND NOT A SOLICITATION OF ANY SECURITIES. THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL...
by Brian Schad | Jun 28, 2016 | Gold Futures, Hard-Asset Investments, Precious Metals Trading
Gold futures have retreated about one-half from their Brexit highs last Friday, but one gold veteran with more than 20 years in the industry claims last week’s move may be the very start of a forthcoming major bull market for the precious metal. Gold futures are down $6.30 per ounce today currently trading at $1,318.40 per ounce at the Commodity Exchange in NYC. The Aussie mining-boss – Jake Klein – believes investors are returning to the market with the rise of so much uncertainty and volatility because gold provides an “alternative currency.” Late last week gold soared over $100 per ounce after the United Kingdom voted for nationalism (versus “globalism”) and investors seeking a safe haven with financial uncertainty abound. “I guess to me, the most interesting thing is: are we seeing the first fault lines of a major correction and change in the financial and political systems?,” asked Jake Klein, head of Australia’s second-biggest gold producing venture Evolution Mining Ltd., sharing his fundamental assessment of the gold futures market. Klein added, “If that’s the case, then we could very well be at the early stages of a major bull market.” The trend for gold futures is up with no top yet in sight. For those that didn’t want to take a chance at last week’s direction for gold futures, I believe we’re seeing a correction in the market possible to even lower levels. ALL COMMENTARY IS CONSIDERED OPINION & VIEWS FROM THE AUTHOR AND NOT A SOLICITATION OF ANY SECURITIES. THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CONSIDER WHETHER SUCH TRADING...
by Brian Schad | May 24, 2016 | Gold Futures, Hard-Asset Investments, Precious Metals Trading
Gold futures continue their tumble from its May 2nd high as domestic economic data continues to lift the dollar and the perception of declining British sentiment of exiting the EU also weighing on the precious metal. June Gold futures are down nearly $22 today (as of this writing) currently trading at $1,229.60 per ounce at the Commodity Exchange in New York. The Department of Commerce has reported new home sales for last month soaring 16.6% – the highest gain in almost 25 years – and tomorrow the Federal House Finance Agency is expected to report a one-half of 1% gain for single-family homes for the month of March. The news has helped push the US Dollar Index more than one-third of 1% to its highest level in two months – testing its December high. “A stronger dollar eases the price of dollar-denominated commodities such as gold making it more expensive for foreign-buyers, and more advantageous for those using the greenback as their primary currency,” said Barb Levy, chief director for The Fox Group’s futures division in Chicago, sharing her fundamental assessment of the gold futures market. Levy added, “Should the Federal Reserve decide to hike interest-rates, or even ‘hint’ at doing so, this could also be potentially bearish for gold futures.” The technical trend for gold futures is confirmed down as of today. My study shows a primary target for gold at the $1,110 level with the possibility of moving down to the December $1,050 support level. Other counterparts of mine show $1,184 as their primary target with the distinct possibility for gold futures to get down to the...
by Brian Schad | Apr 12, 2016 | Gold Futures, Precious Metals Trading
Gold futures extended their gains today with not only a weaker dollar, but the outlook that the Federal Reserve will remain cautious in their monetary tightening approach. Gold futures are up $1.50 trading at $1,259.50 per ounce at the Commodity Exchange in New York. Gold futures for June delivery reached $1,264.60 today – prices not seen since March 22nd – just as the US Dollar tested Monday’s low of 93.74 which is its weakest price since October. The dollar has remained weak since Federal Reserve Chairwoman, Janet Yellen, made comments eluding to expectations of the next interest-rate increase. “The Fed’s are keeping a very ‘open mind’ in the direction of interest-rate increase keeping the gold trade rather on edge,” said Devin Brady, President of Progressive Trading Group in Sherman Oaks, CA, sharing his fundamental assessment of the gold futures market. Brady added, “A lower-priced dollar is beneficial to gold investors as it keeps the price of bullion lower.” The trend for gold futures remains up with the market testing its March highs. Gold futures is trading between its $1,290 (March) high, and its $1,210 (late-March) low. ALL COMMENTARY IS CONSIDERED OPINION & VIEWS FROM THE AUTHOR AND NOT A SOLICITATION OF ANY SECURITIES. THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL...
by Brian Schad | Feb 11, 2016 | Global Markets, Gold Futures, Hard-Asset Investments, Precious Metals, Precious Metals Trading
The gold rush is on as gold futures spiked to a high of $1,263.90 in early morning trade with fears of global financial instability due to a tumbling stock market, a lower US Dollar, and little yield in US Treasury Bonds. Gold futures remain up $50 per ounce at this time currently trading at $1,244.60 at the New York Commodity Exchange. The spike in the precious metal began in the early morning hours with talk of European bank’s shares plummeting to multi-year lows and the concerns of how banks are to profit in a low-growth and low interest-rate outlook. The chairwoman from the Federal Reserve added to the gold rush euphoria when she made comments supporting a slower pace of future rate increases. Nicholas Medina, a futures and options specialist for Capital Trading Group in Chicago, shared his fundamental view of the gold futures market by stating, “The gold (futures) market may be foretelling of an economy to come. Last year gold dropped based on a decent performance, but with the events of other markets so far this year – not so much.” Medina added, “Gold (futures) will naturally rally when there are such worries about our domestic economy and how that will ripple across foreign economies.” The trend for gold futures is up with no top in sight. Gold futures has turned into a professional’s market with very wide swings happening, so future buyers should be looking for dips. ALL COMMENTARY IS CONSIDERED OPINION & VIEWS FROM THE AUTHOR AND NOT A SOLICITATION OF ANY SECURITIES. THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU...
Recent Comments