Precious Metals – Particularly Gold and Silver – Have Been Chosen by the Free Market for Thousands of Years to Serve as Money - Money Metals Exchange. #Silver’s Long Consolidation Looks Like a Launching Pad. Silver’s Long Consolidation Looks Like a Launching Pad. The primary trend for gold and silver over the past year and a half has been the absence of any clear direction in prices.
Metals markets have been stuck in consolidation mode. Yet for silver, in particular, that consolidation has formed a clear and potentially powerful pattern. The silver market’s consolidation has formed a symmetrical triangle pattern. Prices are now nearing the apex of that triangle. The pattern cannot hold much longer – it must soon break in one direction or the other. A bearish breakdown could quickly pull prices back down to the $14/oz level…while a bullish breakout would target $20.50 and potentially much higher beyond that.
The latest Commitment of Traders (COT) report shows silver futures speculators positioning on the bearish side. The good news for bulls is that when speculators pile on to one side of the market in a big way, it usually backfires on them. Long-term investors shouldn’t be overly concerned with the machinations of the futures markets. #Gold Shows Strength As #Debt Ceiling Showdown Approaches. Gold Shows Strength as Debt Ceiling Showdown Approaches. By Stefan Gleason of Money Metals Exchange Gold and silver markets enter this week on improved technical footing.
The precious metals each rallied above resistance levels last week as disappointing economic data stimulated safe-haven buying. Silver cleared the $16.00 level, while gold poked above its 200-day moving average for the first time in five months on Wednesday. And prices closed Friday right at the 200-day line and remain there this morning. However, gold’s 50-day moving average remains below its 200-day – indicating the bearish crossover that took place over a year ago is still in force. Debt Limit Showdown: Obama Administration Ramps Up Pressure on Its Establishment Republican Allies The Republican-controlled Congress faces some tough decisions in the days ahead. For now, Congress remains in disarray amidst a civil war between establishment Republicans and reform-minded Republicans. Comment Here! Comments. Raising the US #Debt Ceiling Means Jacking Up Future #Inflation. Raising the US Debt Ceiling Means Jacking Up Future Inflation.
Interest-Rates / US DebtAug 03, 2017 - 05:31 AM GMT By: MoneyMetals By Stefan Gleason : The dramatic failure of the U.S.
Senate’s last-ditch Obamacare repeal effort leaves Republicans so far without a major legislative win since Donald Trump took office. No healthcare reform. No tax reform. The more things change in Washington... the more they stay the same. Despite an unconventional outsider in the White House, it’s business as usual for entrenched incumbents of both parties. Since March, the Treasury Department has been relying on “extraordinary measures” to pay the government’s bills without breaching the statutory debt limit.
By October, according to Treasury officials, the government could begin defaulting on debt if Congress doesn’t approve additional borrowing authority. Treasury Secretary Steven Mnuchin wants Congress to pass a “clean” debt limit increase. Fiscal conservatives hope to tie the debt ceiling hike to at least some budgetary reforms. Source: Congressional Budget Office.