Gold rallied establishing the high on the classic 7th day. The Daily Bearish Reversal; to watch lies at 1285.60 on a nearest futures. A closing beneath 1295 will warn that a pause in the uptrend is starting.

So far gold’s rally is an outside reversal to the upside on a daily basis, not weekly. The Weekly Bullish Reversal stands at 1336. Support lies at 1280-1272 for this week into next followed by 1240. Resistance starts at 1307 next week followed by 1331. Initial support will rise slightly to 1290. We still see […]

While the gold promoters continue to argue this is wrong and gold will soar to thousands of dollars, the trend is not yet ready for prime time. On a nearest futures basis, a monthly closing below 1251 will signal a drop is at hand. Our support still lies at 1155 and 904 so nothing has […]

  I have stated NUMEROUS times that gold is neither the hedge against inflation nor does it rise all alone during hyperinflation when everything rises. The difference between gold and other investments such as real estate and stocks lies in its MOVABILITY. During hyperinflation, EVERYTHING rises so long as the nation survives aside from the […]

As of April 1st, Japan is raising a consumption tax from 5% to 8% on gold. Japan imposes a retail consumption tax on gold unlike most other countries. Indeed, the tax increased caused an early jump in gold sales in Japan during March. However, taxes are effecting gold in many ways. Because silver is taxes […]

So far, gold has been unable to get through the first primary resistance 1390-1400 barrier. We pressed higher into this week making the high but then turned back down. Now the two levels forming are 1323 and 1425. A weekly closing back below 1308.00 will signal a resumption of the downtrend. Major monthly resistance stands […]

Gold rallied and provided a minor weekly buy signal but has formidable resistance at the 1425 level while the gold promoters tout inflation, the Fed, war, and more hyperinflation. Their counterpart is of course CNBC in the stock market who will claim there really was no sell off only a buying opportunity as Bloomberg TV […]

I have said countless times that gold is NEVER a hedge against inflation or hyperinflation. I can show how even silver declined during the Roaring ’20s while inflation soared. This whole concept of gold and inflation is just absurd for even the Dow has outperformed gold since 1980 by nearly 17 times. As for hyperinflation, […]

The Swiss National Bank, one of the world’s biggest owners of gold, was forced to admit it took a loss of $17 billion on their gold holdings for 2013. This is by far the largest loss in gold anyone has ever seen. The gold loss forced the Swiss central bank to cancel dividends for the first […]

QUESTION: Mr. Armstrong, I’m a long time reader and great admirer of your efforts.  I recently read an analysts opinion on inflation that I want to share with you. This analyst maintains that the Fed’s actions to stimulate the economy has done nothing more than fill the pockets of the very bankers that caused the economic […]