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- Submitted Jul 16, 2020|From sunshineprofits.com
Inflation has finally risen, but the Fed will remain dovish. Gold can continue its upward march. The U.S. CPI inflation rate rose 0.6 percent in June, following a 0.1 percent drop in May. It was the first increase in four months and the biggest jump ...
- Submitted Jul 15, 2020|From sunshineprofits.com
What we previously wrote about mining stocks' breakdown and yesterday's upswing, might seem like something that invalidates it or something that's just nonsense. In reality, it's one of the common patterns that we see after breakdowns - the price ...
- Submitted Jul 6, 2020|From sunshineprofits.com
Silver is moving up quite shortly today, which sounds bullish, until one realizes that silver tends to be particularly strong right before the precious metals market tops. And you know what's the other thing that quite often happens at the tops, in ...
- Submitted Jun 30, 2020|From sunshineprofits.com
We all fear the second wave of infections. But the U.S. hasn't even controlled the first one! Bad news for Americans, but good news for gold. Please take a look at the chart below. As you can see, the epidemiological situation in the United States ...
- Submitted Jun 29, 2020|From sunshineprofits.com
The second wave of Covid-19 is here and while it makes gold's potential even better in the long run, it's likely to mean a sharp decline beforehand. It might be tempting to focus on something else, to look the other way, or to limit testing, but the ...
- Submitted Jun 26, 2020|From sunshineprofits.com
During the coronavirus crisis many people couldn't find physical gold, as there was a bullion shortage at dealerships. And these lucky individuals who managed to obtain bullion had to pay high premiums. We invite you to read our today's article ...
- Submitted Jun 25, 2020|From sunshineprofits.com
IMF predicts deeper global recession and slower recovery, just as I expected. Good news for gold. The June edition of the IMF's World Economic Outlook Report Update is out! The main message is that the IMF predicts now even a deeper recession than ...
- Submitted Jun 23, 2020|From sunshineprofits.com
Jobless claims paint a much grimmer picture than other pieces of economic data. So, the Fed (and other central banks) will remain dovish for years, which should support gold prices. More and more economic reports show the beginning of the economic ...
- Submitted Jun 23, 2020|From sunshineprofits.com
Crude oil moved above the previous highs and at the moment of writing these words, it's testing the upper border of the March price gap. And given the fundamental news that are reaching (and likely to reach) the market - the increasing Covid-19 ...
- Submitted Jun 22, 2020|From sunshineprofits.com
Historical precedents are in many a technician's toolbox - and it's a tool they reach for with success repeatedly. Does the yellow metal offer any interesting parallels? Gold had declined and it recovered, but the above simply prolongs the 2008-2020 ...
- Submitted Jun 19, 2020|From sunshineprofits.com
We previously wrote that while it was tempting to bet on crude oil's prices due to their weakness, it was not a good idea from the risk to reward point of view, as black gold didn't invalidate the breakout above the early-March high. And it was ...
- Submitted Jun 19, 2020|From sunshineprofits.com
The initial health crisis seems to be under control in many countries, including the US. The situation is stabilizing and the governments are easing quarantine restrictions. And, importantly, the number of daily confirmed deaths in the US has peaked ...
- Submitted Jun 15, 2020|From sunshineprofits.com
The gold futures contract lost 0.14% on Friday, as it remained within its Thursday's daily trading range. The price broke above $1,750 mark once again before closing below that resistance level. Global markets went risk-on and gold has been selling ...
- Submitted Jun 15, 2020|From sunshineprofits.com
It seems that global stock markets have disconnected from the fundamental reality. They have been rising since the end of March despite the collapsing economies and soaring unemployment. Why? And what does it imply for the gold prices? Let's start ...
- Submitted Jun 11, 2020|From sunshineprofits.com
Yesterday, the Fed issued the statement from the FOMC meeting on June 9-10. The statement is little changed from the April edition. Nevertheless, there are two important differences. First, the members of the Committee have acknowledged the ...
- Submitted Jun 9, 2020|From sunshineprofits.com
The gold futures contract gained 1.31% on Monday, as it retraced some of its last week's Friday's decline following much better than expected U.S. monthly jobs data release. Global markets went risk-on and gold has sold off as a safe-haven asset. On ...
- Submitted Jun 9, 2020|From sunshineprofits.com
The recent job report is not reliable, but it shows recovery in the US labor market. The situation is still bad, but optimism could triumph for now, which is bad for gold. On Friday, the Bureau of Labor Services released the newest edition of the ...
- Submitted Jun 3, 2020|From sunshineprofits.com
The precious metals sector was likely to decline, and it did exactly that. And based on what we just saw, it's likely to decline even more. Once again, the situation yesterday and so far today developed quite in tune with what we wrote yesterday, so ...
- Submitted Jun 2, 2020|From sunshineprofits.com
Some people think that the pandemic is dying out and that its end will stop the bull market in gold. But these claims are not entirely true: the epidemic is not over globally, and gold fundamentals will remain positive even after the containment of ...
- Submitted May 28, 2020|From sunshineprofits.com
The key technical development of this week in the precious metals market is HUI's invalidation of the breakout above the 2016 highs. It will be particularly interesting to see where it closes the week, as an invalidation in weekly closing terms will ...