Mickey Fulp Contributing to kitco.com.
Mickey Fulp Contributing to kitco.com
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Precious Metals Sector Faces Challenges as US Dollar ReboundsThe precious metals sector has been driven lower by bears as the US Dollar rebounds, despite positive technicals at the end of July. While the S&P 500 gains momentum, Gold struggles to break out from its bullish pattern. Gold and silver stocks face challenges due to cost increases and stagnant prices, while valuations have declined. Despite these challenges, Gold remains in a bullish consolidation and is approaching resistance.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Bearish Signals Intensify in Precious Metals MarketThe precious metals market experienced a significant shift due to bearish signals from the USDX and stocks. The combination of a breakdown below the rising support line and an intraday reversal suggests that lower stock market prices are expected. Stocks are currently at their 50-day moving average and June highs, but once these support levels are broken, a substantial fall is likely. The RSI indicator indicates that stocks were overbought, similar to previous instances where significant declines occurred. Mining stocks have also shown weakness compared to the S&P 500, indicating potential lower values in the near future.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Likely Price Locations of Buy and Sell Stop Orders in Comex Gold and Silver Futures MarketsThis article provides information on the probable locations of buy and sell stop orders in the active Comex gold and silver futures markets. It explains the purpose of stop orders and highlights the importance of knowing their likely placement for traders. Stop orders can be used to minimize losses, protect profits, or initiate new positions. They are typically placed based on key technical support or resistance levels on the daily chart. Understanding the location of buy and sell stops can help traders anticipate intensified buying or selling pressure in the market.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Stocks Drop as Markets Remain FragileThe Stoxx 600 index dropped 0.8% and the 10-year Treasury yield near 4%. The British pound led gains against the dollar. Markets were fragile after the Fed expressed concerns about rising prices. China's government moved to manage local government debt, while property developer Country Garden Holdings predicted a multibillion-dollar loss. Haven assets saw increased investment while stocks saw outflows.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Mixed Performance in U.S. Markets, Canadian Dollar Slightly WeakerThe S&P/TSX composite index rose, while the Dow Jones and S&P 500 saw slight gains. The Canadian dollar weakened slightly against the US dollar. Crude oil prices increased, while natural gas prices decreased. Gold and copper prices also saw slight declines.
Source: GlobalNational - 🏆 81. / 51 Read more »