Market Updates

The US stock market finally woke up to coronavirus risk with the S&P 500 crashing 11.60% in less than a week, and gold jumping to highs of $1,687. Silver fell back this week to $17.80 given 18% of annual fabrication demand comes out of China. With the Australian dollar down over 6% this year to fresh lows at 0.656, local gold prices were a tick above $2,500 and silver at $27.10.

This week, we look at coronavirus’ impact on the Australian economy, and with other countries resorting to cash handouts, is Australia next?

Gold broke above the crucial $1,586 level this week, trading above $1,620;  silver moved above $18 into a resistance zone between $18.40 and $18.50. The Australian dollar busting down past 0.66 put a rocket booster under the metals’ Aussie prices, with gold at $2,462 and silver $28.05.

This week, we delve into how a 60/40 stocks/bonds portfolio can have lost decades of returns, and the case for a Dragon Portfolio with a 19% allocation to gold.

US gold rallied to $1,577 and silver fell back to $17.66 this week. The AUD/USD was on struggle street last week, hitting an 11 year low and pushing AUD gold higher to $2,346.

This week, we look at the impact of coronavirus on global supply chains and gold demand, central banks keen on issuing their own digital currencies, and Australians overexposed to housing and over-valued equities.

The metals eased as markets accepted the official coronavirus numbers, with gold lower to $1,565 and silver to $17.80. A RBA rates hold pushed the AUD higher to 0.673 and the local gold price down to $2,326, with silver at $26.70.

This week we discuss crazy parabolic US stock prices that are disconnected from company sales/earnings, and crowd sourced gold & silver price forecasts from expert analysts with a good track record

Gold continued higher on coronavirus concerns to $1,577 with silver reaching $17.90 while also sending the AUD/USD lower to 0.671c - resulting in an all-time high AUD gold price of $2,362 (silver $27.08).

This week, we look at worrying trend down in Aussie retail sales, and what will be the economic impact of the coronavirus?

A slow and steady week for the metals with gold tracking sideways to USD$1,560, silver falling back to $17.80 and platinum pulling back to $1,000. Australian prices also steady at $2,280 and $26.05.

This week we cover what’s up with palladium?, the elites’ annual meet at “Green” Davos, central bankers’ god complex, and wealth inequality and financial market instability.

After an earlier sell-off, gold recovered back above $1,550 with silver trading just under $18. An Aussie dollar close to 0.69c gives gold and silver some stability around $2,250 and $26 respectively.

This week, we dive into five new year precious metal investment resolutions, why rhodium is up 1,187% since bottoming in mid-2016, and is there really no other alternative to stocks?

Over the holidays, the metals broke out and Iran/US tensions put a rocket under that. Gold is holding above the crucial $1,550 level with silver getting dragged along to just under $18. Aussie gold reached a high of $2,352 and is currently $2,262 with silver at $26.17.

This week we look at should you trade like George Costanza – opposite to what your instincts say?, the continuing war on cash in Greece, and China and Sweden Is the greenest gold that which is kept in the ground?

With the end of 2019 quickly approaching in this last update for the year we look back at 2019 for the events that caught our eye across the precious metals, financial markets and geopolitics.

A volatile week saw gold trade to a $1,486 high before a smack down to stabilise at $1,470 with silver at $16.95. Australian prices ended up much lower at $2,129 and $24.60 thanks to a spike in the AUD to 0.69c.

This week, we dive into what MMT and debt jubilees mean for gold, elites worried about blimp-sized black swans secretly buying gold, and our interview with crypto newsletter Nuggets News

Another quiet week with gold holding firmly above the key $1,446 level at $1,458 and silver trading just above $17. The Aussie continues its long-term downward trend, supporting AUD gold and silver at $2,155 and $25.15 respectively. This week we drill into the RBA’s quantitative easing plans to keep rates low, Australian gold exports and Asian demand, and a call option bet on a $4,000 gold price.

A relatively quiet week for precious metals with gold trading lower to $1,466 and silver at $17.10 and local prices largely unchanged at $2,160 and $25. This week we discuss Australian households hitting a double century of debt, the unsustainable debt of the US, and safety deposit boxes for the super rich.

Volatility in precious metals prices continued this week with gold dropping as low as $1,446 before rallying back up to $1,470 at time of writing, with silver recovering most of the early week’s losses and trading back above $17 per ounce.

This week saw a significant pullback in precious metals prices, with gold dropping 2.9% to USD$1,468 and silver dropping 5.5% to USD$17.10 per ounce, mainly on the back of thawing tensions between China and the US, with both agreeing to start reducing tariffs ‘in phases’.

Gold bulls had a win in the ongoing battle for the USD$1,500 level with a break north to $1,512 and silver following just above $18. Local prices were somewhat unchanged with the AUD/USD jumping to 69c.

Gold and silver continued to trade in a tight range and are holding within the pennant formation we noted last week.

Not a very volatile week for precious metals prices in USD terms with gold trading into a tighter range this week, currently above $1,490 and silver $17.50, unchanged from Friday last week.

The battle for gold to hold above the psychological USD$1,500 level continued this week with gold whipsawing around that level after failing to hold it convincingly. Bulls are currently losing the battle with gold sitting at $1,493 per ounce, with silver trading at $17.50, so both metals are in a sideward consolidation for now.

It looked like we were about to see a more sustained pullback in precious metals prices this week when gold traded lower into to the USD$1,460-$1,470 range, but this was short lived as equity market volatility and a miserable US PMI read helped gold rebound back up through the $1,500 level for now. A tough market to pick in the short term, but it seems in general the overall mentality moving forward is to buy into any decent sized dips.

Gold held within its $1,480-$1,550 channel during a headline driven week. The metals were initially supported with weak manufacturing data out of Europe and then Boris Johnson’s suspension of British Parliament being ruled as unlawful. The announcement of a formal impeachment inquiry against President Donald Trump was a further boost as was Trump’s surprisingly negative comments at the UN regarding China’s “massive market barriers, heavy state subsidies, currency manipulation, product dumping, forced technology transfers and the theft of intellectual property.”

Gold opened the week strongly with a flight to safety following the weekend attack which cut Saudi Arabia’s oil production by half. The market was range-bound during the week waiting for the US interest rate decision. Following the announcement that the Fed would lower its target range by a quarter of a percent, gold fell rapidly by $25 to a low of $1,481. Gold tested the bottom of the $1,480-$1,550 range we discussed last week but has held up as we write, trading at just above $1,500. Silver was unable to get above $18 and is currently trading at $17.85. Its lacklustre performance relative to gold saw the gold:silver ratio getting as high as 85.3 this week, and currently settling around 84.

This week saw the metals falling on choppy trading, particularly yesterday following the European Central Bank’s monetary policy meeting. While the ECB’s multiple aggressive easing measures (minus 0.5% rates, Euro 20 billion of quantitative easing) saw prices rise, it wasn’t enough to overcome softening geopolitical risk (i.e. John Bolton being “you’re fired” by Trump) and wholesale market reports of tepid Chinese and Indian demand.

This week, gold had another crack at the $1,550 level on the back of negative manufacturing index figures, the continuing saga that is Brexit and commencement of tariff hikes. However, the resumption of US-China trade talks and strong US employment figures overnight on top of easing tensions in Hong Kong saw profit taking in the precious metals, with gold booking a -$40 move to $1,513 and silver dropping a buck to $18.50. The RBA’s decision to leave interest rates on hold gave the Aussie a boost, seeing it end its couple of weeks’ downward trend to below 0.67 to put on a cent and trade above 0.6810 as we write. The Australian dollar’s strength saw local gold prices miss a run to $2,300 to currently hold just above $2,200.

A constructive week for precious metals. After trading between $1,490 and $1,510 last week, gold jumped $30 Friday US time on tit for tat tariff increases from both the US and China. Then followed Fed Chair Jerome Powell’s Jackson Hole speech which focused on uncertainty around trade and risks to the US economy. We say constructive because gold held on to its Friday gains and now seems to be trading in a $1,520-$1,550 range, testing the bottom of that as we write.

We saw some consolidation in precious metals prices this week with gold drifting back below US$1,500 and silver pulling back to $17.00 an ounce. It seems that short-term, the battle for the $1,500 level will come under pressure from profit taking as the price remains well above moving averages and looking short-term overbought. With some further consolidation warranted, those waiting and hoping for a short-term pullback in precious metals prices might find their entry spot next week, but what could upset the party would be commentary coming out of the Jackson Hole gathering of central bankers which will happen our time tonight. Gold will no doubt react to the tone of the commentary of Fed chair Jerome Powell, so prices hinge on how that plays out tonight.