Daily Gold News: Gold’s Consolidation Following Last Week’s Rally

The gold futures contract gained 0.34% on Monday, as it fluctuated following its Thursday’s-Friday’s rally. The price broke above a short-term consolidation along $1,800 price level. In early April the market has bounced from the support level marked by March 8 local low of $1,663.30. The yellow metal’s price was the lowest since last year’s June. Today gold is trading within its yesterday’s daily range, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.2% higher this morning, as it is trading along yesterday’s closing price. What about the other precious metals? Silver is 0.9% higher, platinum is 0.1% lower and palladium is 0.4% higher today. So precious metals are higher this morning.

Today we will have some Fed-talk but the markets will be waiting for tomorrow’s important Consumer Price Index release.

Where would the price of gold go following last Friday’s NFP release? We’ve compiled the data since September of 2018, a 32-month-long period of time that contains of thirty two NFP releases. The following chart shows the average gold price path before and after the NFP releases for the past 32 months. The market was usually advancing ahead of the release day and closing 0.49% higher on the 10th day after the NFP release.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Tuesday, May 11

  • 5:00 a.m. Eurozone – German ZEW Economic Sentiment
  • 6:00 a.m. U.S. – NFIB Small Business Index
  • 10:00 a.m. U.S. – JOLTS Job Openings
  • 10:30 a.m. U.S. – FOMC Member Williams Speech
  • 12:00 p.m. U.S. – FOMC Member Brainard Speech
  • 1:00 p.m. U.S. – FOMC Member Daly Speech
  • 1:15 p.m. U.S. – FOMC Member Bostic Speech

Wednesday, May 12

  • 5:00 a.m. Eurozone – EU Economic Forecasts
  • 8:30 a.m. U.S. – CPI m/m, Core CPI m/m
  • 9:00 a.m. U.S. – FOMC Member Clarida Speech
  • 1:00 p.m. U.S. – FOMC Member Bostic Speech
  • 1:01 p.m. U.S. – 10-y Bond Auction
  • 2:00 p.m. U.S. – Federal Budget Balance

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

* * * * *

Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

 

Daily Gold News: Monday, May 10 – Gold Closer to $1,850 Price Level

The gold futures contract gained 0.86% on Friday, as it extended its short-term uptrend following breaking above the recent consolidation. In early April the market has bounced from the support level marked by March 8 local low of $1,663.30. The yellow metal’s price was the lowest since last year’s June. Today gold is trading close to Friday’s daily high, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.5% higher this morning, as it is trading closer to $1,850 price level. What about the other precious metals? Silver is 1.1% higher, platinum is 1.2% higher and palladium is 1.9% higher today. So precious metals are higher this morning.

Friday’s monthly jobs data release has been much worse than expected at only +266,000. But the markets went risk-on again. Today we won’t get any new important economic data releases. The markets will be waiting for Wednesday’s important Consumer Price Index release.

Where would the price of gold go following Friday’s NFP release? We’ve compiled the data since September of 2018, a 32-month-long period of time that contains of thirty two NFP releases. The first chart shows price paths 5 days before and 10 days after the NFP release. The last three cases are marked with dashed lines. Gold gained 1.92% in April and it gained 2.54% in March.

The following chart shows the average gold price path before and after the NFP releases for the past 32 months. The market was usually advancing ahead of the release day and closing 0.49% higher on the 10th day after the NFP release.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Monday, May 10

  • 2:00 p.m. U.S. – FOMC Member Evans Speech

Tuesday, May 11

  • 5:00 a.m. Eurozone – German ZEW Economic Sentiment
  • 6:00 a.m. U.S. – NFIB Small Business Index
  • 10:00 a.m. U.S. – JOLTS Job Openings
  • 10:30 a.m. U.S. – FOMC Member Williams Speech
  • 12:00 p.m. U.S. – FOMC Member Brainard Speech
  • 1:00 p.m. U.S. – FOMC Member Daly Speech
  • 1:15 p.m. U.S. – FOMC Member Bostic Speech

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

* * * * *

Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

 

Commodity Prices Hit All-Time Highs – What’s Next?

Last week, Iron Ore broke $200 a ton for the first time ever. Palladium broke above $3,000 to hit a new record high and Copper prices soared more than 10% to surpass an all-time high.

The bullish momentum also split over into the precious metals with Gold posting its best week since November 2020, while Silver prices jumped 6% to record their biggest weekly gain in 3-months.

There are plenty of fundamental factors why commodities are on the move, but the key driver is a vaccine-led recovery fuelled by massive amounts of global stimulus into Green Energy and Infrastructure projects. This is against a backdrop of tightening supply across many high-in-demand commodities, which firmly suggests that a new supercycle is now underway.

Interestingly, this year many commodities have already exceeded the highs of the previous supercycle seen during the early 2000s – And this is just the beginning!

Looking ahead to this week, the key macro events that traders will be watching closely for clues on the markets next big move include; CPI and PPI data. Jobless claims, U.S. Retail Sales as well as comments from a host of Fed speakers.

Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:

Will Silver Prices Hit $30 Again In 2021?

This week, Iron Ore broke $200 a ton for the first time ever, while Palladium broke above $3,000 to hit an all-time record high. Elsewhere, Copper prices surged to a fresh 10-year high and have now doubled from the lows seen a year ago.

And then there’s Silver, which is once again starting to attract a lot of attention – on a scale not seen since the global financial crisis in 2008.

There is a lack of Silver around the world. There is not much Silver at any refineries and getting your hands on physical Silver is becoming increasingly difficult. In fact, Silver is now rarer than Gold, which means there is a risk of a real Silver squeeze this year.

And let’s not forget the whole ‘Green Energy Revolution’, which is currently taking shape across the global economy.

Silver is a key component in everything from electric vehicles, renewable energy to solar power technology. However, supply is limited, which further supports the bullish case for Silver prices in the medium to long term.

As governments around the world pursue more aggressive Green Energy and Infrastructure policies to reach net-zero carbon emissions by 2050 or sooner – this alone will continue to be a major driver of Silver demand for years to come.

Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:

For a look at all of today’s economic events, check out our economic calendar.

Daily Gold News: Thursday, May 6 – Gold Bouncing Back and Forth

The gold futures contract gained 0.47% on Wednesday, as it extended its short-term consolidation. In early April the market has bounced from the support level marked by March 8 local low of $1,663.30. The yellow metal’s price was the lowest since last year’s June. Today gold is trading closer to the recent local highs, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.3% higher this morning, as it is trading closer to $1,800 price level. What about the other precious metals? Silver is 1.0% higher, platinum is 0.8% higher and palladium is 0.8% lower today. So precious metals are higher this morning.

Yesterday’s ADP Non-Farm Employment Change release has been worse than expected at +742,000. The ISM Services PMI has also been worse than expected at 62.7. Today we will get the Unemployment Claims release, among others.

The markets will be waiting for tomorrow’s monthly jobs data release.

Where would the price of gold go following Friday’s NFP release? We’ve compiled the data since September of 2018, a 32-month-long period of time that contains of thirty two NFP releases. The first chart shows price paths 5 days before and 10 days after the NFP release. The last three cases are marked with dashed lines. Gold gained 1.92% in April and it gained 2.54% in March.

The following chart shows the average gold price path before and after the NFP releases for the past 32 months. The market was usually advancing ahead of the release day and closing 0.49% higher on the 10th day after the NFP release.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Thursday, May 6

  • 7:30 a.m. U.S. – Challenger Job Cuts y/y
  • 8:30 a.m. U.S. – Unemployment Claims, Preliminary Nonfarm Productivity q/q, Prelim Unit Labor Costs q/q
  • 1:00 p.m. U.S. – FOMC Member Bostic Speech

Friday, May 7

  • 6:00 a.m. Eurozone – ECB President Lagarde Speech
  • 8:30 a.m. U.S. – Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m
  • 8:30 a.m. Canada – Employment Change, Unemployment Rate
  • 10:00 U.S. – Final Wholesale Inventories m/m
  • 10:00 a.m. Canada – Ivey PMI

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

* * * * *

Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

 

Daily Gold News: Wednesday, May 5 – Gold Remains Within a Consolidation

In early April the market has bounced from the support level marked by March 8 local low of $1,663.30. The yellow metal’s price was the lowest since last year’s June. Today gold is trading along yesterday’s closing price, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.1% lower this morning, as it is trading within a short-term consolidation. What about the other precious metals? Silver is 0.6% lower, platinum is 1.1% lower and palladium is 0.4% higher today. So precious metals are mixed this morning.

Yesterday’s U.S. Factory Orders release has been slightly worse than expected at +1.1%. Today we will get the ADP Non-Farm Employment Change release at 8:15 a.m., among others.

The markets will be waiting for Friday’s U.S. monthly jobs data release.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Wednesday, May 5

  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change
  • 9:30 a.m. U.S. – FOMC Member Evans Speech
  • 9:45 a.m. U.S. – Final Services PMI
  • 10:00 a.m. U.S. – ISM Services PMI
  • 3:00 p.m. U.S. – FOMC Member Evans Speech
  • 6:30 p.m. Canada – BOC Governor Macklem Speech
  • Tentative, Eurozone – EU Economic Forecasts

Thursday, May 6

  • 7:30 a.m. U.S. – Challenger Job Cuts y/y
  • 8:30 a.m. U.S. – Unemployment Claims, Preliminary Nonfarm Productivity q/q, Prelim Unit Labor Costs q/q
  • 1:00 p.m. U.S. – FOMC Member Bostic Speech

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

* * * * *

Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

 

Daily Gold News: Tuesday, May 4 – Retracing Monday’s Advance

The gold futures contract gained 1.36% on Monday, as it got back to the recent local highs again.

In early April the market has bounced from the support level marked by March 8 local low of $1,663.30. The yellow metal’s price was the lowest since last year’s June. Today gold is trading lower, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.6% lower this morning, as it is retracing some of yesterday’s advance. What about the other precious metals? Silver is 0.6% lower, platinum is 0.7% higher and palladium is 1.0% higher today. So precious metals are mixed this morning.

Yesterday’s U.S. ISM Manufacturing PMI release has been worse than expected at 60.7. Today we will get the Factory Orders number.

Where would the price of gold go following Thursday’s U.S. Advance GDP release? We’ve compiled the data since January of 2013, an over 8-year-long period of time that contains of thirty three Advance GDP releases. The following chart shows the average gold price path before and after the U.S. Advance GDP releases for the past 33 months. The market was usually going sideways ahead of the release day and closing 0.21% lower on the 10th day after the NFP release.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Tuesday, May 4

  • 12:30 a.m. Australia – RBA Rate Statement, Cash Rate
  • 10:00 a.m. U.S. – Factory Orders m/m
  • 1:00 p.m. U.S. – FOMC Member Daly Speech
  • All Day, Japan – Bank Holiday
  • All Day, China – Bank Holiday

Wednesday, May 5

  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change
  • 9:30 a.m. U.S. – FOMC Member Evans Speech
  • 9:45 a.m. U.S. – Final Services PMI
  • 10:00 a.m. U.S. – ISM Services PMI
  • 3:00 p.m. U.S. – FOMC Member Evans Speech
  • 6:30 p.m. Canada – BOC Governor Macklem Speech
  • Tentative, Eurozone – EU Economic Forecasts

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

* * * * *

Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

 

Daily Gold News: Monday, May 3 – Gold Trading Along $1,780 Price Level

The gold futures contract lost 0.03% on Friday, as it continued to trade within a short-term consolidation. In early April the market has bounced from the support level marked by March 8 local low of $1,663.30. The yellow metal’s price was the lowest since last year’s June. Today gold is trading higher but still within a short-term consolidation, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.6% higher this morning, as it is trading along $1,780 price level. What about the other precious metals? Silver is 1.0% higher, platinum is 0.3% lower and palladium is 0.5% higher today. So precious metals are higher this morning.

Today we will get the U.S. Manufacturing PMI releases at 9:45 a.m. and 10:00 a.m. and a speech from the Fed Chair Powell at 2:20 p.m.

Where would the price of gold go following Thursday’s U.S. Advance GDP release? We’ve compiled the data since January of 2013, an over 8-year-long period of time that contains of thirty three Advance GDP releases. The following chart shows the average gold price path before and after the U.S. Advance GDP releases for the past 33 months. The market was usually going sideways ahead of the release day and closing 0.21% lower on the 10th day after the NFP release.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Monday, May 3

  • 9:45 a.m. U.S. – Final Manufacturing PMI
  • 10:00 a.m. U.S. – ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices
  • 2:10 p.m. U.S. – FOMC Member Williams Speech
  • 2:20 p.m. U.S. – Fed Chair Powell Speech
  • All Day, U.K. – Bank Holiday
  • All Day, Japan – Bank Holiday
  • All Day, China – Bank Holiday

Tuesday, May 4

  • 12:30 a.m. Australia – RBA Rate Statement, Cash Rate
  • 10:00 a.m. U.S. – Factory Orders m/m
  • 1:00 p.m. U.S. – FOMC Member Daly Speech
  • All Day, Japan – Bank Holiday
  • All Day, China – Bank Holiday

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

* * * * *

Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

 

Commodity Supercycle Gathers Momentum – What’s Next For Prices

Last week, Palladium, Iron Ore and Lumber prices took centre-stage skyrocketing to all-time record highs. Meanwhile Copper and Aluminium prices hit 10-year highs. Both metals have now doubled from the lows seen a year ago.

There are plenty of fundamental factors why commodities are on the move, but the key driver is a vaccine-led recovery fuelled by massive amounts of global stimulus into Green Energy and Infrastructure projects. This is against a backdrop of tightening supply across many high-in-demand commodities, which firmly suggests that a new supercycle is now underway.

Interestingly, this year many commodities have already exceeded the highs of the previous supercycle seen during the early 2000s – And this is just the beginning!

Looking ahead to this week, the key macro events that traders will be watching closely for clues on the markets next big move include; ISM Manufacturing PMI, ADP Employment Change and Jobless Claims as well as the biggest event of the week – Non-Farm Payrolls data on Friday.

Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:

Global Reversal of Covid-Related Curbs Driving Demand for Commodities

The outlook for commodity prices remain bullish, given the current weakness in the U.S. Dollar, shortages due to the reopening of the global economy and expectations that the Federal Reserve will allow U.S. inflation to exceed mandated levels.

Goldman Sachs Updates Commodities Outlook

Last week, U.S. bank Goldman Sachs said it expects commodities to rally another 13.5% over the next six months on a worldwide reversal of coronavirus curbs, lower interest rates and a weaker dollar.

“We expect the biggest jump in oil demand eve, a 5.2 million barrels per day (bpd) rise over the next six months,” Goldman said, citing accelerations of vaccinations in Europe and an unleashing of pent-up travel demand.

The easing of international travel restrictions in May will lead global jet demand to recover by 1.5 million bpd, it said.

The bank see gold prices at $2,000 an ounce over the next six months and said it is too early for Bitcoin to compete with gold for safe haven demand, adding that the two can co-exist, Reuters reported.

Goldman also upgraded its copper price forecast, setting a 12-month target of $11,000 per tonne, citing an under-invested supply side.

“The only way this record-sized and fast approaching supply crunch can be solved is via a surge in price to new record highs,” the bank said.

While China will maintain its major role in commodity demand, the bank added, it is not expected to be the only major source of growth in the coming decade.

Soaring Lumber Prices Reverberate Through U.S. Housing Market

Skyrocketing lumber prices threaten to thwart the momentum of the U.S. housing market, which for months has been one of the brightest stars of the recovery from the pandemic recession.

Surging demand pushed housing inventories to record lows. Homebuilding got to work, and lumber producers have struggled to catch up, which might take some time. Meanwhile, lumber prices have jumped more than 300% year-on-year to record highs.

With lumber prices sky high and a slim supply of housing stock, median home prices of existing homes jumped by a record-breaking 17.2% last month.

Palladium Tops $3,000 for First Time Amid Undersupply

Palladium rose above $3,000 an ounce for the first time on Friday as the market worried about a shortage of the metal embedded by automakers in exhaust pipes to neutralize emissions.

Demand from the auto industry is rising and expected to climb further as a semiconductor chip shortage that has curtailed production eases later this year.

“Palladium has been in a structural deficit for 10 years. We have seen above ground inventories falling to very low levels,” said UBS analyst Giovanni Staunovo.

For a look at all of today’s economic events, check out our economic calendar.

Daily Gold News: Friday, Apr. 30 – Gold Still Going Sideways

The gold futures contract lost 0.32% on Thursday, as it extended a short-term consolidation. Early in the month the market has bounced from the support level marked by March 8 local low of $1,663.30. In early March yellow metal’s price was the lowest since last year’s June. Today gold is trading along yesterday’s closing price, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.2% lower this morning, as it is trading within a consolidation. What about the other precious metals? Silver is 0.8% lower, platinum is 1.5% higher and palladium is 1.3% higher today. So precious metals are mixed this morning.

Yesterday’s Advance GDP release has been slightly worse than expected at +6.4%. Today we will get the Chicago PMI, UoM Consumer Sentiment releases.

Where would the price of gold go following yesterday’s U.S. Advance GDP release? We’ve compiled the data since January of 2013, an over 8-year-long period of time that contains of thirty three Advance GDP releases. The first chart shows price paths 5 days before and 10 days after the Adv. GDP release. The last three cases are marked with dashed lines. Gold lost 2.28% 2.54% in January/ February and it gained 0.28% in October/ November last year.

The following chart shows the average gold price path before and after the U.S. Advance GDP releases for the past 33 months. The market was usually going sideways ahead of the release day and closing 0.21% lower on the 10th day after the NFP release.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Friday, April 30

  • 4:00 a.m. Eurozone – German Preliminary GDP q/q
  • 8:30 a.m. Canada – GDP m/m
  • 9:45 a.m. U.S. – Chicago PMI
  • 10:00 a.m. U.S. – Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations

Friday, April 30

  • 4:00 a.m. Eurozone – German Preliminary GDP q/q
  • 8:30 a.m. Canada – GDP m/m
  • 9:45 a.m. U.S. – Chicago PMI
  • 10:00 a.m. U.S. – Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

* * * * *

Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

 

Are Silver Prices On The Verge of Another Short Squeeze?

As we head into May, attention has once again shifted to the Silver market with rumours of another attempt to push up prices – under the movement, spearheaded by a group of retail traders known as #SilverSqueeze and #SilverRaid.

Elsewhere in the commodity markets, Palladium, Copper and other industrial metals have continued to take centre-stage this month. Palladium and Copper prices in particular have made an impressive start in Q2, 2021, driven by a big surge in Green Energy and Infrastructure spending this year.

This week, Palladium prices notched up further gains, surging at an all-time record high – almost in striking distance of the $3,000 mark.

Palladium’s explosive rally also pulled up Copper, which is now trading at a decade high. Copper prices have more than doubled since March last year.

There are plenty of fundamental factors why metals are on the move, but the key driver is a vaccine-led recovery fuelled by massive amounts of global stimulus into Green Energy and Infrastructure projects. This is against a backdrop of tightening supply across many high-in-demand commodities, which indicates that a new supercycle is now firmly underway.

Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:

For a look at all of today’s economic events, check out our economic calendar.

Daily Gold News: Thursday, Apr. 29 – Gold Unchanged Despite Fed, Biden

The gold futures contract lost 0.28% on Wednesday, as it further extended a short-term consolidation. Early in the month the market has bounced from the support level marked by March 8 local low of $1,663.30. In early March yellow metal’s price was the lowest since last year’s June. Today gold is trading within the mentioned short-term consolidation, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.5% lower this morning, as it is retracing an intraday advance once again. What about the other precious metals? Silver is 0.3% higher, platinum is 0.5% lower and palladium is 0.5% higher today. So precious metals are mixed this morning.

Yesterday’s FOMC Statement release has led to another stock market rally but gold extended its fluctuations. Today we will get the important Advance GDP release.

Where would the price of gold go following tomorrow’s U.S. Advance GDP release? We’ve compiled the data since January of 2013, an over 8-year-long period of time that contains of thirty three Advance GDP releases. The first chart shows price paths 5 days before and 10 days after the Adv. GDP release. The last three cases are marked with dashed lines. Gold lost 2.28% 2.54% in January/ February and it gained 0.28% in October/ November last year.

The following chart shows the average gold price path before and after the U.S. Advance GDP releases for the past 33 months. The market was usually going sideways ahead of the release day and closing 0.21% lower on the 10th day after the NFP release.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Thursday, April 29

  • 8:30 a.m. U.S. – Advance GDP q/q , Advance GDP Price Index q/q, Unemployment Claims
  • 10:00 a.m. U.S. – Pending Home Sales m/m
  • 9:00 p.m. China – Manufacturing PMI, Non-Manufacturing PMI

Friday, April 30

  • 4:00 a.m. Eurozone – German Preliminary GDP q/q
  • 8:30 a.m. Canada – GDP m/m
  • 9:45 a.m. U.S. – Chicago PMI
  • 10:00 a.m. U.S. – Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

* * * * *

Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

 

Daily Gold News: Wednesday, Apr. 28 – Gold Breaking Lower Ahead of FOMC Release

The gold futures contract lost 0.07% on Tuesday, as it continued to trade within a short-term consolidation. Early in the month the market has bounced from the support level marked by March 8 local low of $1,663.30. In early March yellow metal’s price was the lowest since last year’s June. Today gold is trading below the mentioned short-term consolidation, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.6% lower this morning, as it is trading below the recent local lows. What about the other precious metals? Silver is 1.5% lower, platinum is 1.1% lower and palladium is 1.6% higher today. So precious metals are lower this morning.

Yesterday’s CB Consumer Confidence announcement has been better than expected at 121.7. Today the markets will be waiting for FOMC Statement release at 2:00 p.m. and tomorrow we will have the Advance GDP release .

Where would the price of gold go following tomorrow’s U.S. Advance GDP release? We’ve compiled the data since January of 2013, an over 8-year-long period of time that contains of thirty three Advance GDP releases. The first chart shows price paths 5 days before and 10 days after the Adv. GDP release. The last three cases are marked with dashed lines. Gold lost 2.28% 2.54% in January/ February and it gained 0.28% in October/ November last year.

The following chart shows the average gold price path before and after the U.S. Advance GDP releases for the past 33 months. The market was usually going sideways ahead of the release day and closing 0.21% lower on the 10th day after the NFP release.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Wednesday, April 28

  • 10:00 a.m. Eurozone – ECB President Lagarde Speech
  • 2:00 p.m. U.S. – FOMC Statement, Federal Funds Rate
  • 2:30 p.m. U.S. – FOMC Press Conference
  • Tentative, All Day – OPEC-JMMC Meetings
  • All Day, Japan – Bank Holiday

Thursday, April 29

  • 8:30 a.m. U.S. – Advance GDP q/q , Advance GDP Price Index q/q, Unemployment Claims
  • 10:00 a.m. U.S. – Pending Home Sales m/m
  • 9:00 p.m. China – Manufacturing PMI, Non-Manufacturing PMI

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

* * * * *

Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

Daily Gold News: Tuesday, Apr. 27 – Still Trending Sideways

The gold futures contract gained 0.13% on Monday, as it extended its short-term consolidation. Early in the month the market has bounced from the support level marked by March 8 local low of $1,663.30. In early March yellow metal’s price was the lowest since last year’s June. Today gold is trading within the mentioned short-term consolidation, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.1% lower this morning, as it is trading along yesterday’s daily close. What about the other precious metals? Silver is 0.1% higher, platinum is 0.2% higher and palladium is 1.0% higher today. So precious metals are mixed this morning.

The markets will be waiting for tomorrow’s FOMC Statement and Thursday’s Advance GDP releases. But today we will get the important CB Consumer Confidence announcement at 10:00 a.m.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Tuesday, April 27

  • 10:00 a.m. U.S. – CB Consumer Confidence , Richmond Manufacturing Index
  • 4:00 p.m. Canada – BOC Governor Macklem Speech

Wednesday, April 28

  • 10:00 a.m. Eurozone – ECB President Lagarde Speech
  • 2:00 p.m. U.S. – FOMC Statement, Federal Funds Rate
  • 2:30 p.m. U.S. – FOMC Press Conference
  • Tentative, All Day – OPEC-JMMC Meetings
  • All Day, Japan – Bank Holiday

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

* * * * *

Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

 

Daily Gold News: Monday, Apr. 26 – Gold Extends Consolidation

The gold futures contract lost 0.24% on Friday, as it traded within a short-term consolidation. Early in the month the market has bounced from the support level marked by March 8 local low of $1,663.30. In early March yellow metal’s price was the lowest since last year’s June. Today gold is trading along Friday’s closing price, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is virtually unchanged this morning, as it is trading within a short-term consolidation following the recent advances. What about the other precious metals? Silver is 0.2% higher, platinum is 0.5% higher and palladium is 1.4% higher today. So precious metals are mixed this morning.

The markets will be waiting for Wednesday’s FOMC Statement and Thursday’s Advance GDP releases. Today we will get the Durable Goods Orders announcement at 8:30 a.m.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Monday, April 26

  • 4:00 a.m. Eurozone – German ifo Business Climate
  • 8:30 a.m. U.S. – Durable Goods Orders m/m, Core Durable Goods Orders m/m
  • Tentative, Japan – BOJ Outlook Report, Monetary Policy Statement, BOJ Policy Rate

Tuesday, April 27

  • 10:00 a.m. U.S. – CB Consumer Confidence, Richmond Manufacturing Index
  • 4:00 p.m. Canada – BOC Governor Macklem Speech

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

* * * * *

Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

 

Daily Gold News: Friday, Apr. 23 – Gold Moving Sideways

The gold futures contract lost 0.62% on Thursday, as it retraced Wednesday’s advance. Early in the month the market has bounced from the support level marked by March 8 local low of $1,663.30. In early March yellow metal’s price was the lowest since last year’s June. Today gold is trading slightly higher, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.2% higher this morning, as it is retracing some of yesterday’s decline. What about the other precious metals? Silver is 0.1% lower, platinum is 1.2% higher and palladium is 0.1% higher today. So precious metals are mixed this morning.

The markets will be waiting for the U.S. Flash Manufacturing PMI/ Flash Services PMI releases at 9:45 a.m. We will also have the New Home Sales release at 10:00 a.m.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:

Friday, April 23

  • 3:15 a.m. Eurozone – French Flash Services PMI, French Flash Manufacturing PMI
  • 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI
  • 4:00 a.m. Eurozone – Flash Manufacturing PMI, Flash Services PMI
  • 9:45 a.m. U.S. – Flash Manufacturing PMI, Flash Services PMI
  • 10:00 a.m. U.S. – New Home Sales

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.
* * * * *

Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

 

Silver Prices Enter Correction Territory – What’s Next?

Silver and other industrial metals, such as Copper and Palladium have made an impressive start to Q2 2021, but a healthy correction is now due, which could lead to the next leg higher.

This week, Palladium prices led the rally, surging at an all-time record high.

Palladium’s explosive rally also pulled up Copper, which is now trading at a decade high. Copper prices have more than doubled since March last year. Meanwhile, Silver prices have traded in and around the $26 an ounce level.

There are plenty of fundamental factors why metals are on the move, but the key driver is a vaccine-led recovery fuelled by massive amounts of global stimulus into Green Energy and Infrastructure projects. This is against a backdrop of tightening supply across many high-in-demand commodities, which indicates that we now at the dawn of a new supercycle.

Earlier this month, President Biden revealed his ‘Build Back Better’ Plan to transform the U.S. economy.

President Biden’s ambitious $2.3 trillion proposals will involve pumping hundreds of billions of dollars into improving the nation’s aging roads, bridges, schools, railways, waterways, airports and cellular network. This ultimately means that the U.S is going to need more commodities – and lots of them.

However, supply is limited – which is yet another indication that we could be on verge of a new supercycle in commodities as demand outstrips supply over the next few years. Therefore, any near-term pullbacks should be considered as a buying opportunities.

Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:

For a look at all of today’s economic events, check out our economic calendar.

Gold Forecast – March Bottom Signals New Multi-Month Advance

On March 5th, I penned an article titled: Gold Price Forecast – A Rare Post Crisis Buying Opportunity. Prices bottomed 3-days later and just below our $1675 target. We believe a new uptrend is just beginning. Below is a copy of our most recent gold report.

FRIDAY GOLD FORECAST APRIL 23, 2021

As the inflation numbers tick up into May, the rallies in metals and miners should gain momentum. Our work supports an advance in gold to $2000+ by July or August. Gold miners continue to offer more upside, in our opinion.

The Gold Cycle Indicator finished at 12. A new upcycle is just beginning and could last several months. Our Educational Metals Portfolio is overweight gold miners.

 

GOLD– As long as gold holds above the $1750 level, I think the surprises will come to the upside. Gold probably needs to take out $1800 to spark the next multi-day advance. I continue to look for a retest of the $2000 level by July or August.

 

-SILVER Silver is trying to recapture the contentious $26.00 level. As long as prices stay above $24.50, I continue to expect a breakout above $30.00. I’ll better estimate targets once we see the magnitude of the breakout.

 

PLATINUM Platinum remains stuck in consolidation and needs to break above $1260 or below $1140 for direction. Ultimately, I expect higher prices.

 

-GDX- I continue to believe miners formed an important bottom in March 2021. The trend remains a bit hesitant. Gold may have to rally above $1800 to trigger the 5%+ bullish recognition day I’ve been awaiting. As long as prices stay above $34.50, the path of least resistance looks higher.

 

-GDXJ- It’s been two steps forward and one step back since the March low. Prices need to get back above the 200-day MA to summon a more robust advance. If silver breaks sharply above $30.00 as expected, I think we could see new highs by July/August.

 

-KL- Kirkland Lake Gold remains my favorite producer. I think prices reached an important bottom in March. As long as prices stay above $37.00, I think they will head back towards $50.00+. This is one stock I plan on holding for several years.

 

-NEM- As long as Newmont stays above $63.00, I believe prices should head to new highs.

 

-SILJ- The cup-with-handle pattern in the silver junior mining ETF is a bit busy and less clear due to its volatility. Nevertheless, I believe prices bottomed, and as long as they stay above $14.50, I expect new highs.

 

-PTON- There was a little confusion regarding the chart of Peloton. I’m only using it as an illustration for a head and shoulder topping pattern. Though it could signal a broader decline in the stock market, I’m not suggesting a short. I thought the pattern was exceptional and wanted to share it with members. A definitive close below $95.00 would signal a pattern breakdown and support a downside target of $50.00.

 

-XLE- Energy stocks are trying to hold support surrounding $47.00. The odds favor a breakdown and decline towards $40.00 to $44.00.

Markets may remain subdued before next week’s Fed announcement. Overall, prices are behaving as expected coming out of the March lows.

AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle. For more information, please visit here.

For a look at all of today’s economic events, check out our economic calendar.

Daily Gold News: Thursday, Apr. 22 – Gold Still Below $1,800 Price Level

The gold futures contract gained 0.83% on Wednesday, as it extended its recent advance. Early in the month the market has bounced from the support level marked by March 8 local low of $1,663.30. In early March yellow metal’s price was the lowest since last year’s June. Today gold is retracing some of the advance, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.6% lower this morning, as it is trading along the recent local highs. What about the other precious metals? Silver is 1.0% lower, platinum is 1.0% lower and palladium is 0.7% lower today. So precious metals are lower this morning.

The markets will be waiting for today’s ECB ’s Monetary Policy Statement announcement at 7:45 a.m. and their Press Conference at 8:30 a.m. We will also have the U.S. Unemployment Claims release at 8:30 a.m.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Thursday, April 22

  • 7:45 a.m. Eurozone – Monetary Policy Statement, Main Refinancing Rate
  • 8:30 a.m. Eurozone – ECB Press Conference
  • 8:30 a.m. U.S. – Unemployment Claims
  • 10:00 a.m. U.S. – CB Leading Index m/m, Existing Home Sales

Friday, April 23

  • 3:15 a.m. Eurozone – French Flash Services PMI, French Flash Manufacturing PMI
  • 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI
  • 4:00 a.m. Eurozone – Flash Manufacturing PMI, Flash Services PMI
  • 9:45 a.m. U.S. – Flash Manufacturing PMI, Flash Services PMI
  • 10:00 a.m. U.S. – New Home Sales

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

* * * * *

Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.