Blog

With outside market action remaining in favor of the bear camp early today, the bull camp remains hopeful that this week's inflation data will further revive the prospect of a US rate cut, which in turn would continue to pressure the dollar and treasury yields lower.

However, the gold market is vulnerable this morning following comments from the Indian Bullion and Jewelers Association suggesting Indian wedding season demand will soften due to record pricing.

Along those lines, the domestic Indian gold trade has seen prices shift into a discount relative to global markets, with Chinese premiums narrowing...[MORE]

Please subscribe to receive the full report via email by clicking here.

Higher all-time highs overnight are clearly justified by ongoing outside market assistance.

In addition to a multiweek low in US treasury yields, the gold and silver bulls were presented with a downside extension in the dollar to the lowest levels since the middle of January!

In retrospect, outside market forces for gold this week became entrenched in favor of the bull camp with a distinct pattern of US slowing evidence, a slightly dovish US Fed takeaway, and increased expectations for a June rate cut from the ECB...[MORE]

Please subscribe to receive the full report via email by clicking here.

While the views might be misguided and premature, a segment of the market believes interest rate cuts are likely to rekindle inflation which could be the source of the recent buying frenzy in gold, silver, and Bitcoin.

Another bullish catalyst for gold and other physical commodities came from strong Chinese commodity imports which provides hope the Chinese economy is recovering. Keep in mind, the Chinese are the world's largest gold consumers!

However, April gold has continued to surge over the last 48 hours while Bitcoin has seemingly stalled questioning the correlation between the two markets...[MORE]

Please subscribe to receive the full report via email by clicking here.

Good morning. The precious metals are higher in early U.S. trading.

U.S. calendar features Challenger Layoffs, Trade: Goods & Services, Q4 Productivity & ULC Revised, Initial Jobless Claims, Consumer Credit.

ECB steady on rates, reiterates data dependency, cuts growth, and inflation forecasts.

FedSpeak due from Powell & Mester.

Obviously, gold and silver are short-term overbought from a technical perspective and perhaps somewhat overbought from a fundamental perspective.

Nonetheless, with gold and silver prices vaulting higher yesterday and gold prices forging record highs again, the bull camp retains control even without a definitively apparent bullish fundamental theme.

However, gold has forged a five-day low-to-high rally of $123 which suggests the bull camp will need some "help" from the US Federal Reserve Chairman's testimony this morning...[MORE]

Please subscribe to receive the full report via email by clicking here.