Market Report

It’s Saturday, January 30, 2021, and this your Market report. What a crazy week! Stocks had an up and down week, Metals were mixed, and Bitcoin is acting like a rabid lemming looking for a rocket or a cliff. Let’s start with… Gamestop. This week the WallStreetBets Reddit group (r/WSB) came out in force to crush Melvin Capital, a hedge fund that had heavily shorted GME shares. The r/WSB folks decided that this was wrong and created a short squeeze on Melvin’s position. This caused ALL kinds of insane price moves, which I wrote about in my “Short Squeezing Gamestop (GME)” Medium post. ...

It’s Saturday, January 23, 2021, and this your Gold, Silver, Bitcoin, and Stock Market report. What a week! Stock market indices close near all time highs, Bitcoin got clobbered earlier in the week, and Gold and Silver market rebound slightly. Stock markets rallied last week, buoyed by the incoming Biden Administration and its shift to taking the Covid19 pandemic seriously. Gold and Silver had price gains but the charts continue to show a slow slide to the downside. Bitcoin sold off in the week amid comments made by incoming Sectary of the Treasury Janet Yellen on limiting the use of Bitcoin. ...

It’s Saturday, January 16, 2021, and this your Gold, Silver, Bitcoin, and Stock Market report. The markets take a pause this week to catch their breath! Gold and Silver drop this week, Bitcoin sells off from record highs, and the Dow Jones / Nasdaq / S&P500 pull back from recent highs. The markets are entering a consolidation phase with profit-taking happening in the stock markets and possibly Bitcoin. We expect more of this in the coming week as Biden Administration takes over. That said, the threat of violence from alt-right terrorists is quite possible for next week which could generate volatility in the highly speculative markets of Bitcoin and Silver. ...

It’s Saturday, January 9, 2021, and this your Gold, Silver, Bitcoin, and Stock Market report. What a week! With the Capitol riots in DC - incited by the outgoing Trump administration - many anticipated the markets to fall. Instead, they all charged higher closing at all-time highs! The Stock Market likes the incoming Biden administration because more stimulus is coming. Bitcoin rallied to another record this week breaking and closing above $40,000 a coin. ...

Happy New Year! It’s Friday January 1, 2021 and this your Gold, Silver, and Bitcoin market report! Markets are closed today. Gold closed up +1.89% this week to $1,893.09. Silver also closed higher, up +1.97% to $26.33. Bitcoin had another spectacular week, closing the 2020 year at $29,001.72. Gold Chart Gold closed the year closer to the $1,900 level contrary to our call to be closer to the $1,800 level. Gold Bulls wanted to finish the year strong and they did, however the Bears stopped them just shy of the magic $1,900 level. This does not bode well for Gold Bulls as the resistance is becoming too strong. I suspect that over the next few weeks our models might generate a new resistance line. ...

It’s Saturday, December 26, 2020 and this is the last Gold and Silver market report for 2020! Look to more market reports in 2021 with additional market commentary when applicable. Gold and Silver Markets closed lower last week with Gold closing down -0.58% to $1,874.69 and Silver down -0.46% to $25.82. Our properietary models all point to Gold and Silver being fairly valued at these levels. Any price movements above these values are considered forthy and prone to corrections. Conversely, any prices moves below these values constitutes a good value play. ...

It’s Saturday, December 19, 2020 and this is your week’s Gold and Silver market report. In a stunning reversal, Gold and Silver prices closed higher this week. While this is good news, the charts are showing that Gold is making ‘lower highs, and ‘lower lows’ on the weekly charts and Silver appears to be in a range. Still, this up movement was welcome news for the Silverbugs who are hoping for a $30/oz Christmas. Gold closed at $1,885.69, up 2.49% for the week, where Silver closed at $25.94, up 7.94%! ...

It’s Saturday, December 12, 2020 and this is your week’s Gold and Silver market report. Gold and Silver prices closed mixed this week with Gold edging out a slight gain and Silver closing a touch lower. Both prices experienced very volatile price swings throughout the week with Gold closing to $1,839.80 (+0.02%) and Silver to $24.03 (-0.07%). Gold Chart Gold had a very volatile week as is evident by the long legged doji of this week’s price action. This signals market consolidation or general indecision at which way prices should move. Our models point to downward price pressures and our forecast for Gold next week is a lower close to the $1,829.05 level. It’s quite possible that Gold could end the year closer to the $1,800 level than the $2,000 level. Long term forecasts for Gold point to higher prices but with larger price swings in the short term. ...

It’s Saturday, December 5, 2020 and this is your week’s gold and silver market report. Gold and Silver prices rebounded this week after a severe beating last week. However, all trends are now moving down now and we expect prices to generally drift lower till the end of the year. Gold closed higher for the week to $1,835.90, a gain of +1.67%. Silver also closed higher to $24.20, up +3.64%. ...

It’s Saturday, November 28, 2020 and this is your week’s gold and silver market report. Gold and Silver prices were clobbered this holiday week as more money poured out of the metals and into Stocks. Gold closed lower for the week to $1,788.09, down a whopping -4.51%. Silver took a nosedive down to $22.63, down -7.06%. The run ups in prices appear to be over with many Silverbugs trapped at higher prices. We expect downward price pressures to remain through the end of the year as weak hands get flushed out. ...