Gold Prices Today – Euro Area Deflation & Janet Yellen Pose Threat but for How Long?

Spot Gold Price at Kitco.com

A double dose of trouble threatens gold prices today, as euro-area inflation data came in soft this morning and Fed Chair Yellen is set to speak later this afternoon. Each of the two factors serves dollar strength, which is threatening to gold price appreciation. But after close study of the data and realization of other issues, we are suspicious of the staying power of the factors against gold. See the full report on today's gold prices here.

Precious Metal Relative	09-29-15 Close
SPDR Gold Trust (NYSE: GLD)	-0.4%
iShares Gold Trust (NYSE: IAU)	-0.4%
ETFS Physical Swiss Gold Trust (NYSE: SGOL)	-0.4%
iShares Silver Trust (NYSE: SLV)	+0.2%
ETFS Physical Silver Trust (NYSE: SIVR)	+0.3%
Market Vectors Gold Miners (NYSE: GDX)	+0.7%
Market Vectors Junior Gold Miners (NYSE: GDXJ)	+0.2%
Direxion Daily Gold Miners Bull 3X (NYSE: NUGT)	+1.5%
Direxion Daily Gold Miners Bear 3X (NYSE: DUST)	-0.5%
Goldcorp (NYSE: GG)	-1.6%
Randgold Resources (Nasdaq: GOLD)	-0.1%
Barrick Gold (NYSE: ABX)	-0.8%
Silver Wheaton (NYSE: SLW)	+0.3%
Coeur Mining (NYSE: CDE)	+0.4%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Gold Rally Cut at the Knees but it Still has Legs

When the Federal Reserve Chairperson addressed a group in Massachusetts Thursday evening she reiterated the message of the Federal Open Market Committee (FOMC) of a week prior. The threat of an October interest rate action was thus reinforced, and the dollar rebounded. In effect, Janet Yellen offset the impact of the passing of ECB events last week without any new action by the European Central Bank, which had stabilized the euro versus the dollar and given gold lift. I still expect intensification of government shutdown concern this coming week and beyond to weigh on the dollar, and also for the October Fed meeting to pass without rate action, giving gold support. The risk to this view is that the Fed raises rates in October, which I believe would be a temporary setback for gold that could run into 2016 until investors begin to again anticipate European and global recovery and a normalizing dollar. If the Fed refrains from action in October, as I expect it should, precious metals prices should muster a run higher into November before again facing a Fed driven challenge. Long-term metals investors can expect a more sustainable upward trajectory to start in 2016 (likely second half), when the ECB is likely ready to end its quantitative easing program or if some other unforeseen factor comes against dollar strength. See the report on gold here.

Precious Metal Relative	09-25-15
SPDR Gold Trust (NYSE: GLD)	-0.6%
iShares Gold Trust (NYSE: IAU)	-0.5%
ETFS Physical Swiss Gold Trust (NYSE: SGOL)	-0.6%
iShares Silver Trust (NYSE: SLV)	-02%
ETFS Physical Silver Trust (NYSE: SIVR)	-0.3%
Market Vectors Gold Miners (NYSE: GDX)	-1.7%
Market Vectors Junior Gold Miners (NYSE: GDXJ)	-2.3%
Direxion Daily Gold Miners Bull 3X (NYSE: NUGT)	-4.0%
Goldcorp (NYSE: GG)	-1.0%
Randgold Resources (Nasdaq: GOLD)	-2.0%
Barrick Gold (NYSE: ABX)	+0.2%
Silver Wheaton (NYSE: SLW)	-0.8%
Coeur Mining (NYSE: CDE)	-5.5%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Pro Investor Who Predicted Today's Turn in Gold Says it Goes Higher from Here

While hoping followers didn’t miss our call that Thursday (post ECB) would mark a good entry point for gold ownership, we’re reiterating today that gold is good to go higher from here. The buildup to the European Central Bank (ECB) meeting drove the euro lower versus the dollar as expected and was a setback for gold. However, yesterday we got a hint in his testimony that Draghi would not add to the ECB’s extraordinary measures today and so gold got clearance to turn upward. Today the ECB did not further act, and the dollar is giving way with gold gaining sharply. I’m suggesting gold goes higher from here on continued dollar decline and increasing concern about the U.S. government shutdown next week. Increasing speculation about the Fed holding off on rate action in October will also serve gold. Thus, gold is good to go higher from here. See the full bullish report on gold here.

Precious Metal Relative	09-24-15 Midday
SPDR Gold Trust (NYSE: GLD)	+2.3%
iShares Gold Trust (NYSE: IAU)	+2.4%
ETFS Physical Swiss Gold Trust (NYSE: SGOL)	+2.3%
iShares Silver Trust (NYSE: SLV)	+2.2%
ETFS Physical Silver Trust (NYSE: SIVR)	+2.4%
Market Vectors Gold Miners (NYSE: GDX)	+6.0%
Market Vectors Junior Gold Miners (NYSE: GDXJ)	+4.7%
Direxion Daily Gold Miners Bull 3X (NYSE: NUGT)	+16.4%
Goldcorp (NYSE: GG)	+6.3%
Randgold Resources (Nasdaq: GOLD)	+5.5%
Barrick Gold (NYSE: ABX)	+6.6%
Silver Wheaton (NYSE: SLW)	+5.0%
Coeur Mining (NYSE: CDE)	+7.1%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

The Gold Outlook

A golden path has just been paved for gold investors, but it is full of obstacles. The Federal Reserve’s decision to hold off on interest rate liftoff, with all indications pointing toward non-action at least until December and possibly longer in my opinion, is highly supportive to gold (NYSE: GLD). Gold would be poised to move higher as a result of the removal of the dollar block against it. (article authored 9-21) But be careful betting on it at the start of this week, as anticipation of potential ECB action could set a short-term speed bump. I see hope in ECB action eventually finding letdown, and gold benefiting again from that and intensifying concern about a potential government shutdown in the U.S. Thereafter, though, investors will begin propping up the dollar and penalizing gold on October Fed meeting worry. The next month, therefore, is a complex one for gold. See the full report on the gold outlook here.

Article interests SPDR Gold Trust (NYSE: GLD), iShares Silver Trust (NYSE: SLV), Direxion Daily Gold Miners Bull 3X (NYSE: NUGT). Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Why Gold Soared & What's Next

The market wire was buzzing Wednesday with regard to the moves in oil and gold prices. Each commodity moved sharply and partly for one common reason. With regard to gold, the day’s price move was the largest in a month, since the stock market correction in August. But stocks were higher as well, so then what was the catalyst? Well, inflation was seriously muted in the release of the Consumer Price Index (CPI) for August. If price increase is nonexistent, then the Fed has all the more reason to hold off on a rate hike Thursday. No rate hike means the dollar likely gives up ground, which serves both oil and gold prices. Now, if the Fed does go ahead and acts on interest rates Thursday, then Wednesday’s gain in gold should be immediately erased, but that’s not what I’m looking for. See the full report on gold here. 

Precious Metals Securities	Wednesday 09-16-15
SPDR Gold Trust (NYSE: GLD)	+1.3%
iShares Gold Trust (NYSE: IAU)	+1.3%
ETFS Physical Swiss Gold Trust (NYSE: SGOL)	+1.4%
iShares Silver Trust (NYSE: SLV)	+3.3%
ETFS Physical Silver Trust (NYSE: SIVR)	+3.2%
Market Vectors Gold Miners (NYSE: GDX)	+5.9%
Market Vectors Junior Gold Miners (NYSE: GDXJ)	+5.8%
Direxion Daily Gold Miners Bull 3X (NYSE: NUGT)	+16%
Direxion Daily Gold Miners Bear 3X (NYSE: DUST)	-17%
Goldcorp (NYSE: GG)	+6.1%
Randgold Resources (Nasdaq: GOLD)	+5.7%
Barrick Gold (NYSE: ABX)	+7.2%
Silver Wheaton (NYSE: SLW)	+7.1%
Coeur Mining (NYSE: CDE)	-6.3%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Gold is a Responsible Hedge at Times of Terror Risk

Gold and relative securities are a responsible hedge now against dollar exposure because of the risk of terrorism around the September 11 memorial and also on the possibility that the Federal Reserve refrains from rate action. Either would likely harm dollar strength and lift gold prices higher.

FBI Director James Comey said at an intelligence community conference Thursday: “We’ve long found, as you know with al Qaeda, an organization trying to motivate acts in association with that date,” he said. “And we’ve seen some focus on date in [the Islamic State’s] efforts to motivate violence in the homeland.”

See the full report on gold and terrorism risk here. 

Precious Metal Relative

SPDR Gold Trust (NYSE: GLD)

iShares Gold Trust (NYSE: IAU)

ETFS Physical Swiss Gold Trust (NYSE: SGOL)

iShares Silver Trust (NYSE: SLV)

ETFS Physical Silver Trust (NYSE: SIVR)

Market Vectors Gold Miners (NYSE: GDX)

Market Vectors Junior Gold Miners (NYSE: GDXJ)

Direxion Daily Gold Miners Bull 3X (NYSE: NUGT)

Goldcorp (NYSE: GG)

Randgold Resources (Nasdaq: GOLD)

Barrick Gold (NYSE: ABX)

Silver Wheaton (NYSE: SLW)

Coeur Mining (NYSE: CDE)

Silvercorp Metals (NYSE: SVM)

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Gold Week – Lookout for Lockhart

Gold investors had better lookout for Lockhart this week. Atlanta Fed President Dennis Lockhart, a voting member of the Federal Open Market Committee (FOMC), is scheduled to speak on Monday. When last he spoke he stirred up worry about the Fed’s plans by sharing his inclination to raise rates in September, which is probably not good news for gold. Well, actually, that depends on how badly stock investors take the news, because pure panic in equities would spread fear into the dollar trade, which serves gold. It’s complicated – try to follow along. See the full warning on gold here.

Precious Metal Relative	Friday	YTD
SPDR Gold Trust (NYSE: GLD)	+0.25%	-8.3%
iShares Gold Trust (NYSE: IAU)	+0.38%	-7.7%
ETFS Physical Swiss Gold Trust (NYSE: SGOL)	+0.27%	-7.8%
iShares Silver Trust (NYSE: SLV)	+0.86%	-6.3%
ETFS Physical Silver Trust (NYSE: SIVR)	+1.04%	-6.5%
Market Vectors Gold Miners (NYSE: GDX)	+0.22%	-27.1%
Market Vectors Junior Gold Miners (NYSE: GDXJ)	-0.63%	-21.2%
Direxion Daily Gold Miners Bull 3X (NYSE: NUGT)	+0.32%	-74%
Direxion Daily Gold Miners Bear 3X (NYSE: DUST)	-1.06%	+48%
Goldcorp (NYSE: GG)	-0.44%	-25.9%
Randgold Resources (Nasdaq: GOLD)	+0.35%	-11.9%
Barrick Gold (NYSE: ABX)	+2.33%	-34.4%
Silver Wheaton (NYSE: SLW)	+0.47%	-38.8%
Coeur Mining (NYSE: CDE)	-7.17%	-48.7%
Silvercorp Metals (NYSE: SVM)	-0.13%	-44.8%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Gold Might Rest in August but Come September it’ll Get Schooled Again

Gold might find a brief respite appropriately coinciding with the popular vacation month of August, but come September it should get schooled again. Gold prices rose Friday, as the July Fed meeting is behind us now, and as the dollar gave back its gains of Thursday so too did gold regain its lost ground. With the focus off the Fed now, and with gold trading around some support, it could stabilize or even rise a bit in August. However, as September nears and the ruckus about the Federal Reserve’s monetary policy plans is revived, the dollar should again climb higher and gold drive lower. See more of this report on the outlook for gold.

Precious Metal Relative	Friday 7/31	Last 3 Mos.	TTM
SPDR Gold Trust (NYSE: GLD)	+0.6%	-7.2%	-15.6%
iShares Gold Trust (NYSE: IAU)	+0.7%	-7.5%	-14.8%
ETFS Physical Swiss Gold Trust (NYSE: SGOL)	+0.6%	-7.6%	-14.9%
iShares Silver Trust (NYSE: SLV)	-0.1%	-8.8%	-28.1%
ETFS Physical Silver Trust (NYSE: SIVR)	-0.2%	-9.2%	-27.7%
Market Vectors Gold Miners (NYSE: GDX)	+2.2%	-31.6%	-46.6%
Market Vectors Junior Gold Miners (NYSE: GDXJ)	+1.9%	-22.5%	-53.2%
Direxion Daily Gold Miners Bull 3X (NYSE: NUGT)	+5.9%	-72.3%	-92.1%
Goldcorp (NYSE: GG)	+5.1%	-27.6%	-49.2%
Randgold Resources (Nasdaq: GOLD)	+2.3%	-20.3%	-29.1%
Barrick Gold (NYSE: ABX)	+0.1%	-45.5%	-60.1%
Silver Wheaton (NYSE: SLW)	-0.2%	-35.0%	-49.3%
Coeur Mining (NYSE: CDE)	+2.3%	-32.6%	-53.2%
Silvercorp Metals (NYSE: SVM)	+2.6%	-35.7%	-56.7%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.