by Taki Tsaklanos | Precious Metals
Gold is trading near a one-year high. Bloomberg News reports that traders are pricing in only a 10% chance of an interest rate increase this month, and 50% odds of it happening by year end. As said last week, that is one of the most important drivers for gold, next to...
by Taki Tsaklanos | Precious Metals
What a difference two months can makes in markets. In December, literally nobody was talking about gold. Meantime, everybody is bullish, lead by major financial institutions. Deutsche Bank is the latest major financial institution to become bullish take on gold. The...
by Taki Tsaklanos | Precious Metals
It has been an incredible year, so far, for precious metals. The move in gold this year is +17% and, last week alone, it rose +7%. Even mainstream media has jumped on the gold bandwagon. The Economist calls gold’s surge past $1,200 an ounce this week a “hedge against...
by Taki Tsaklanos | Precious Metals
The commodities complex is beaten down. Irrational exuberance is one of the words that pops up as we try to describe the scenario that is unfolding. But extreme readings offer opportunities. And we see a huge opportunity in one of the senior mining producers,...
by Taki Tsaklanos | Precious Metals
Finally, gold is on the move. After the FOMC announcement on Wednesday, gold and bonds got a ‘safe haven’ bid. It appears investors were not really amused with the speech of Mrs. Yellen. From a long term perspective, gold did what it had to do: bounce from...
by Taki Tsaklanos | Precious Metals
There are cool charts, there are incredible charts, and there is the silver chart. The long term silver chart is truly spectacular. The first chart below shows spot silver since the start of the bull market. The first peak in 2007 was quite incredible, but the second...
by Taki Tsaklanos | Precious Metals
Markets welcomed the new year. Major stock markets lost between 6 and 10% in a matter of five trading days! Never seen before, the damage is huge. Gold, meantime, is making its comeback. The yellow metal went several percentages higher in all currencies. Throughout...
by Taki Tsaklanos | Precious Metals
Gold and currencies reacted in a mixed way after the Fed’s announcement to hike interest rates with 25 basis points. Gold remains firm above its recent lows. It was not only gold, but also miners which reacted after the Fed’s announcement. As gold miners...
by Taki Tsaklanos | Precious Metals
Readers know by now that one of our leading indicators in the gold market is the positioning of commercial traders in the gold COMEX market. Now since two weeks, that indicators has become extremely bullish. Note that it is not a good timing indicator, it rather tells...
by Taki Tsaklanos | Precious Metals
Nobody talks about the meaning of the $1087 /oz gold price, but it is a critical price level. The next big moves in gold is being determined at today’s price level. The gold market is testing the significance of $1086.17 /oz. It marks the 50% retracement...
