LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines

COT Gold, Silver and US Dollar Index Report - January 17, 2020

The Genius of JPMorgan
By: Ted Butler

Precious Metals Update Video: Gold Market Trying to Figure out Where Next?
By: Ira Epstein

A Tale of Two Markets
By: Gary Christenson, The Deviant Investor

Asian Metals Market Update: Jan-16-2020
By: Chintan Karnani, Insignia Consultants

Some Positive Gold Market Charts
By: Peter Degraaf

The Fed Is Going All-In To Keep The System From Collapsing
By: Dave Kranzler

Yes, China Is a Currency Manipulator Ė And the U.S. Banking System Is a Metals Manipulator
By: Stefan Gleason, Money Metals Exchange

Real Gold vs Pretend Gold
By: Craig Hemke

Gold, Key Indexes, & Goldman
By: Stewart Thomson, Graceland Updates


GoldSeek Web

Gold Consolidates As The Fed Loses Control

 -- Published: Friday, 20 September 2019 | Print  | Disqus 

 Stewart Thomson, Graceland Updates


1.    Please click here now.  The Fed just cut interest rates again.  It also cut the rate it pays banks on their excess reserves. 

2.    What does this mean for gold?  Well, the 30basis point cut on excess reserves is bigger than the 25basis point cut on the fed funds rate.  That could incentivize banks to loan money to the private sector rather than store it at the Fed. 

3.    Institutional money managers wanted to see a half point cut.  That didnít happen but Jay Powell did talk about potentially restarting QE. 

4.    The bottom line is that current Fed action is mildly inflationary and generally supportive for gold.

5.    Please click here now.  Double-click to enlarge this daily gold chart.  A sloping channel of support is helping mitigate the downside implications of a head and shoulders top pattern, and a key Stochastics oscillator is oversold. 

6.    Unless gold closes under $1490, the most likely move from here is a test of the $1566 area highs.

7.    Please click here now.  Some money managers believe the Fed is on the verge of losing control of interest rates. 

8.    More money printing may be required to regain control. Thatís negative for the dollar and the stock market.  Itís positive for gold and the yen. 

9.    Please click here now.  Double-click to enlarge.  This dollar versus yen chart looks terrible.  The downtrend is a broadening channel and a small bear wedge is in play.  

10. Please click here now.  Double-click to enlarge this GDX daily chart.  While a significant reaction or surge to new highs for gold stocks is possible, the most likely price action now is a sideways market; a range trade for GDX between $26 and $31. 

11. Tactics?  I suggest buying in the $26-$27 area and selling at $30-$31, while awaiting a major breakout above $31 on the weekly chart.

12. Please click here now.  Double-click to enlarge.  The price target of the GDX weekly chart rectangle is about $45! 

13. Gold, silver, and the miners are in a mild and expected pause at weekly chart resistance zones.  My swing trade service for NUGT and DUST is a great way to play the range trade action, while awaiting the weekly chart breakout.

14. Gold is solidly supported by mid-East geopolitical action, dovish central bank action, a peaking US business cycle, and governments that canít shake their addictions to spending and debt.  For precious metals investors, good times are here, and great times are near! 







Stewart Thomson 

Graceland Updates


Note: We are privacy oriented.  We accept cheques, credit card, and if needed, PayPal.


Written between 4am-7am.  5-6 issues per week.  Emailed at aprox 9am daily.   

| Digg This Article
 -- Published: Friday, 20 September 2019 | E-Mail  | Print  | Source:

comments powered by Disqus


Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2019 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


The views contained here may not represent the views of, Gold Seek LLC, its affiliates or advertisers., Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of, Gold Seek LLC, is strictly prohibited. In no event shall, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.