Previous Reports | The Gold Forecast

Previous Reports

Daily Report: Tue, 10/08/2019 - 19:05

According to Wikipedia, there is a simple test that is a form of a deductive reasoning. This is the usual expression: If It looks like a duck, swims like a duck, and quakes like a duck, then it probably is a duck. The test implies that a person can identify an unknown subject by observing that subject habitual characteristics. It is sometimes used to counter obscure arguments that somethings are not what they appear to be.

This phrase seems to of been coined by Indiana poet James Whitcomb Riley (1849 – 1916) when he wrote, “when I see a bird that walks like a duck and swims... Read more

Daily Report: Mon, 10/07/2019 - 19:14

This month is absolutely ripe with upcoming fundamental events that could profoundly shape the financial markets through the remainder of the year. Beginning on Thursday, October 10th and ending on Friday the 11th the Chinese negotiating delegation, including vice premier Lui, will begin a meeting with United States and resume trade negotiations concerning the trade dispute that has been ongoing since July 2018.

It was during that month that President Trump made good on his threats to put into effect tariffs on Chinese imports to the United States. Officially on July 6... Read more

Weekly Report: Fri, 10/04/2019 - 18:59

This morning the U.S. Labor Department released its monthly jobs report. It seemed to follow the trend created earlier this week when the ADP jobs report indicated that only 135,000 new jobs were added last month. Today the Labor Department’s numbers came in under expectations, which were tepid at best, forecasting that there would be the creation of approximately 145,000 new jobs in September. The actual numbers came in just under that estimate at 136,000 new nonfarm payroll jobs gained last month.

The reaction by market participants was lethargic to say the least. Once numbers were released... Read more

Daily Report: Thu, 10/03/2019 - 18:45

Although gold is trading higher on the day, it is most definitely well off of the intraday high achieved when gold futures hit $1525.80. As of 5 PM EDT gold futures basis the most active December contract are currently bid at $1511.10, which is a net gain of $3.20 on the day.

The current demeanor of price changes this week has been highly influenced by Tuesday’s ISM manufacturing report which indicated a major contraction between August and September of this year. The data suggested that the U.S. economy is absolutely contracting and caused a major selloff in U.S. equities that carried over... Read more