December 15, 2023 Raffle Rules and Drawing information The drawing for the ½ oz 2023 gold American Eagle coin (valued at approx. $1,000) will take place on Friday, December 15th, 2023. We will be keeping track of the referrals and in order for your name to be entered into the raffle, your referral must make a minimum purchase of 5 oz of gold and/or 500 oz of silver with American Precious Metals before the date of the drawing. 1/2 oz American Gold Eagle With an iconic design and 1/2 oz of Gold, the American Eagle Gold coin combines the best aspects of investment appeal and collectability. Each ..read more

To our valued clients, If you haven’t seen it already, an article was published today with the following headline: Perth Mint Sold Billions in Diluted Gold to China, Tried To Cover It Up; Report And right below the headline, they show a picture of a counterfeit gold bar produced by Credit Suisse.  One might call that slightly misleading.  We will explain further. Obviously, it is important to not only read headlines and look at pictures, as the wrong conclusion may be drawn, or the false accusations which are made tend to become all that people remember about the subject.  Delvi ..read more

By Neland Nobel Part of gold’s recent story has been that of disappointment.  A rally begins, and what takes weeks of clawing upward is erased quickly. Then gold starts the process again seemingly to fail at important inflection points.  End result: flip flopping around in trading range. Could that be happening again? On Friday, perhaps due to short covering for the weekend and with the threat to Ukraine, gold reached $1860.  Notice, in the chart below, that in terms of momentum, we are not nearly as overbought as the last two peaks. On Monday, February 14th, the gold market fol ..read more

By Neland Nobel The year 2021, will certainly go down as an odd one for gold.  As the chart below shows, gold spent most of the year in negative territory. It has not been a substantially negative performance, but more of a sideways move with modest losses. Gold was never very positive at any point in the past year. Given the extreme monetary and fiscal stimulus during the year, such an outcome seems out of touch with our common understanding that gold tends to do well when money is in trouble.  What the heck is going on? Demand for gold actually held up pretty well, in a year where ..read more

What is an inflection point?  It is a point, or multiple points, on the chart where success or failure at a given price juncture is believed to have some predictive abilities to determine a change in price behavior. The yellow metal is approaching a cluster of price levels that could determine whether this bear trend continues or whether it changes to a more bullish trend. Gold has been in some sort of bearish phase since the peak in August of 2020 that terminated just north of $2000 per ounce.  It has approached key inflection points before, but was not able to break to the upside ..read more

In our last entry, we suggested that gold had become “overbought” and vulnerable to correct, even though the main theme was taking a closer look at silver. The selloff seemed primarily caused by reaction to statements from the Federal Reserve, especially those of non-voting member Bullard of the St. Louis FED who suggested interest rates might be raised as soon as the end of this year. This statement contradicted earlier statements from FED Chairman Powell, who had suggested such increases were unlikely until next year. The FED seems reluctant to admit their own policies have touched off a maj ..read more

By Neland Nobel The last couple of reports have concentrated on gold. Indeed the action on gold has been important.  After a severe oversold condition, gold put in a bottom in early April and has advanced through important resistance at $1800. Gold is once again at important overhead resistance near $1900 and is a tad overbought.  After a pause for consolidation, we expect it to move through resistance to higher prices. There is help coming from multiple factors.  Real interest rates are dropping, as inflation surges and interest rates back off.  There appears to be a rota ..read more

By Neland Nobel We suggested that gold had put in a major low in early March, and put in a double bottom, a variant of the classic head and shoulders bottom. The importance of $1800 was noted in the last blog and we suggested, that if that level were broken, gold would move to the next level of overhead resistance around the $1850 mark. It was also observed that mining shares, which tend to lead bullion by four to six weeks, had already broken their respective overhead resistance and the important 200 day moving average.  All of this is positive for the gold market and it remains highly l ..read more

By Neland Nobel Gold is now at a turning point, which happens to be slightly below the blue 50 day moving average. There were a series of highs formed around $1760 that represents the “neckline” of the double bottom formation that gold has been building. (See chart below) Secondly, all the momentum indicators we typically use, bottomed (see last chart below) with the price action in early March and all of them have now turned upward.  This supports the idea of a shift in momentum, which should allow the current overhead resistance to be breached and send us to very important and substanti ..read more

By Neland Nobel Gold has been in a deceptive correction since last July.  We say deceptive because it has failed several times by the narrowest of margins to breakout, it has stopped at appropriate resistance, only to hover there in a tantalizing fashion, and then proceed lower. It is not that picking a bottom is ever easy (it isn’t) but this particular move has been especially difficult. As we note, gold has technically danced around key areas, and even made two false breakouts to the upside on the way down! On the fundamental front, it has been equally puzzling. The M2 money supply has ..read more