Now at the beginning of the third consecutive week, gold and silver prices continue to climb. After trading to a low of $1215 per ounce during the week of May 5th, gold futures have moved roughly $45 higher, currently up $7.20 (+0.59%) and trading at $1260.80. Silver futures have also gained substantially over the last three weeks. During the week of May 8th, silver futures were just above $16 per ounce. In just three weeks, silver has gained well over a dollar per ounce. Today alone, silver is trading up over 2% on the day at 17.14 per ounce, a net gain of roughly $0.35. Multiple Factors Have Been... Read more

Recent action in gold indicates that there is solid price support at the recent low of $1215. On a technical basis, there are two major patterns identified that confirm this assumption and market model. The combination of these patterns together indicates a high probability that gold prices will move higher over the next few weeks. On a weekly Japanese candlestick chart, a Three River Morning Star pattern has been identified. This pattern was completed this week as gold prices gained 2% on the week. The Three River Morning Star pattern has an uncanny ability to indicate a key reversal or pivot has... Read more

After taking a short breather, U.S. equities regained favor today with the Dow Jones and Standard & Poor’s 500 closing fractionally higher on the day. Both the Dow and S&P 500 gained about a third of a percent in value, with the Dow Jones average closing up 56 points at 20,663, a net gain of +0.27%. The NASDAQ composite once again shined brightly, outperforming the other major indexes with a net gain of +0.71% today, to close at 6053.77. However, the NASDAQ is not currently on track to close at a new record weekly high. This would end the most recent historical climb of the NASDAQ index,... Read more

What do you get when political actions occur which result in steadfast denials from one camp and a lynch mob from the other? When these things happen, you get days like this. What you get is the potential for a major shift in sentiment as market participants focus on current events in Washington, gauging whether they will result in the inability for the current administration to fulfill campaign pledges. You get a day that results in the Dow Jones plunging 310 points, lower 10-year yields, a lower U.S. dollar, and a massive surge in gold prices. What you get is a primary shift of investor... Read more