Previous Reports

Daily Report: Thu, 05/09/2019 - 18:38

The financial markets continue to react to the increased apprehension regarding the outcome of the trade negotiations between the United States and China. Equities globally have been under pressure for the better part of this week. Earlier this week the Dow Jones industrial average traded 660 points lower before recovering on Tuesday. Today the Dow Jones industrial average traded to a low of 25,517 points before recovering, and closing at 25,828.36, a loss of approximately 139 points (0.54%). These losses were highly attributed to rising tensions between the two superpowers. Currently the trade... Read more

Daily Report: Wed, 05/08/2019 - 18:09

Although gold futures closed lower on the day, they did so with a higher low as well as a higher high when compared to Tuesday’s price range. As of 3:20 PM EDT June futures are trading down $3.90 and currently fixed at $1281.70. What is extremely noteworthy in today’s trading activity is the intraday high of $1292.80. This is just above the most recent high of $1290.60 which occurred on Friday, April 26th. This break above the former high creates a simple pattern that was coined by Steve Nison, the CMT market technician that was the first analyst in the United States to educate traders about... Read more

Daily Report: Tue, 05/07/2019 - 18:01

Even though gold only gained fractionally on the day, it is showing some signs that it is acting once again as a safe haven asset. As of 4:12 PM Eastern standard time gold futures are currently trading up $1.90, and basis the most active June contract are fixed at $1285.70. These gains have occurred as the other precious metals have traded lower on the day. Silver, platinum and palladium collectively have been pressured by plummeting U.S. equities markets as their industrial component comes into play. Today investors reacted to the current trade war between the United States and China, and their... Read more

Daily Report: Mon, 05/06/2019 - 18:05

Gold did not exhibit any real follow-through buying after Friday’s dynamic upside move. On Friday gold futures traded from $1271 and closed at approximately $1281 with a respectable $10 gain. As trading began yesterday in Australia gold prices firmed and traded to a high of $1287.40 before prices retraced. As of 4:17 PM Eastern standard time the most active June 2019 futures contract is currently fixed at $1281.50 which is a net gain of $0.20 on the day. Although there are many fundamental factors which could and should have moved gold pricing moderately higher today, traders and market participants... Read more