Gold and the US Dollar are falling while commodities and Bitcoin are rising – Making sense of it all

November 24, 2020

Dave Erfle joins me for a later editorial today focusing on the moves gold, the US Dollar, base metals and commodities broadly, and Bitcoin. There’s no denying there is a risk on trade right now. We make sense of the key drivers and where certain markets are headed. Also note that gold is under performing gold stocks and silver.

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    Nov 24, 2020 24:42 PM

    Gold bounced off $1800, I was hoping it would hold, and it did! Bonzai! DT

    Nov 24, 2020 24:52 PM

    It won’t hold!


    Nov 24, 2020 24:42 PM

    If gold doesn’t hold right here (now), it’s going to be a big waterfall decline. Probably needed to keep the folks worried (I guess).
    A big bounce is needed to keep away from the big trounce.
    A ‘pivotal spot’.

    Nov 24, 2020 24:45 PM

    Our big breakout-fakeout on the 5th failed after a two-day test of rising speed line resistance. It’s no wonder it reversed so hard after failing to plow through it on day 2:

      Nov 24, 2020 24:54 PM


        Nov 24, 2020 24:56 PM

        Looks like Glen’s number is in sight…….$1781……….

    Nov 24, 2020 24:56 PM
      Nov 25, 2020 25:14 AM

      Interesting symmetry Matthew.
      Back in 2003 when oil prices started rising, gold followed. I see the same happening now. Also, most senior Gold miners are also copper producers but stock prices not reflecting that fact.

    Nov 24, 2020 24:12 PM

    If gold goes to the following intersection of speed line and fork support (arrow), it will have to dip below the 233 day MA by the same amount that it did at the March low:

    Whether it does so tomorrow or takes a few days, I expect to see significant relative strength in many miners with many not making new lows. Even today there were some positive divergences.

      Nov 25, 2020 25:55 AM

      Most but not all senior miners are in green today albeit “barely in green” but when masses come to realization that how inexpensive they are relative price just a month ago, they will start nibbling them. Buffet has trim down his Barrick position (won’t be surprised if he completely unloaded) I still feel gold could move down in big Whoosh effect and touch $1772 level.

      Nov 25, 2020 25:56 AM

      I deployed 1/2 of my capital yesterday buying more AEM, AGI. Keeping that other half when it forms a convincing swing.

      Nov 25, 2020 25:22 PM

      Looks like a hanging chad chart