Gold, silver, and mining stocks moved higher once again yesterday and the former even managed to move above the declining trend channel. Breakouts are bullish and thus the outlook for gold improved significantly… Or did it? Gold’s price in terms of the euro and gold’s relative performance to silver and mining stocks make replying to the above question quite easily.
Last Friday, silver declined early in the day only to rally almost 40 cents from the initial low. In our previous alert, we discussed the possibility of silver topping at about $16.65 and this level was reached. Is silver about to take a dive just like it did in late November 2017?
President Donald Trump’s proposed tariff on imported steel and aluminum, at 25% and 10%, is much more than a shot across the bow. Indeed, this could be the official kickoff of the trade war we all anticipated
Taking profits on our short positions and closing them on Thursday turned out to be a good idea. Gold, silver and – on an intraday basis – mining stocks moved higher on Friday, while the USD Index declined
Lawmakers there recently voted to raise taxes and royalties on profits and metals produced. That includes cobalt, whose price has soared 180% in the past three years on red hot electric vehicle (EV) demand.
Last Friday marked the first day of the Chinese Lunar New Year, also known as the Spring Festival, China’s most important holiday. The fire rooster struts off-stage, clearing the way for the loyal earth dog.