Economic Calendar

A solid rest of the day for the precious metals, thanks to the Fed’s Miran saying that a 50bp cut in December would be “appropriate”.  Of course this is preposterous given where current Fed fund futures pricing is, but seeing as gold & silver fell -0.8% and -1.2% off early NY session highs on equally […]

A glorious start to the week for the precious metals overnight thanks to strong risk-on sentiment (global equity rallies and USD selling) following a 60-40 US Senate procedural vote to advance the funding bill on Sunday, the first step towards ending the US government shutdown.  The rest of the weekend new cycle was also very […]

A surprisingly strong start to Asian trade for gold & silver last night (6-9pmET), despite yesterday’s technically poor NY closes below the COMEX closing ranges and declines for the Nikkei and S&P futures during the 8pmET hour.  Another successful defense of gold’s 55hr moving average seemed to be the catalyst right after the Globex re-open.  […]

A very disappointing rest of the day for the precious metal bulls because Wall Street reprogrammed their gold algos to follow the stock market…which fell precipitously from the S&P cash open into 12:30pmET, bounced half way back by 2:30pmET, and finally fell back to session lows by the cash close.  This was especially obnoxious given […]

A strong overnight session as expected for the precious metals, thanks to yesterday’s “bullish piercing line” NY closing patterns on the daily charts, another round of Chinese buying last night, and continued USD selling following yesterday’s rally exhaustion signals.  The big extensions higher for gold & silver during late Asian / early European trade felt […]

A surprising bounce for the precious metals overnight after yesterday’s very poor NY closing prints, but it was mainly because Bitcoin (for whatever reason) recovered its losses from 12pmET yesterday during Asian trade.  This is nothing to celebrate in my opinion, as a new correlation with speculative crypto would introduce an unfavorable volatility profile to […]

A miserable rest of the day for the precious metal bulls.  They showed no interest in defending the overnight lows in gold, and so more aggressive metal algo selling smashed prices into last Wednesday’s lows at the S&P cash open.  A brief pullback for US yields into the London close helped gold bounce, and platinum’s […]

A challenging overnight session for the precious metals as expected following yesterday’s very poor performance during NY trade.  A -0.60% flush lower at the illiquid Globex open set the tone, stopping out Chinese buyers from the night before and so it was understandable that they didn’t return.  A two-hour decline for US yields, following a […]