Silver Price Going for $19 Before Retracing to $16

The price of silver, otherwise known as a safe-haven asset along with gold, crashed sharply as the coronavirus panic swept equity markets. XAGUSD fell to $11.64 on March 18th just as investors needed a refuge the most. But the precious metal has appreciated significantly since the depths of the selloff. As of this writing, silver…

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Gold is Crashing. Elliott Wave Somehow Predicted It

Common sense dictates that in a time of crisis demand for safe-haven assets jumps. The price of gold, for instance, the most sought-after asset in difficult periods, climbed to an all-time high of $1921 shortly after the 2008-9 market crash. This time though, as the world economy is on the verge of grinding to a…

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Gold Fails as a Safe Haven Amid Coronavirus Panic

The S&P 500 was down 14.4% for the week at one point Friday on fears the coronavirus outbreak is going to become a worldwide pandemic. It is common knowledge that investors turn to gold when stocks and other risky assets decline. Last week, however, that wasn’t the case. While stock markets around the globe were…

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Silver Bears Discouraged by Fibonacci Encounter

We last wrote about silver in March 2019, when the precious metal was hovering slightly above $15. Our analysis of its 4-hour chart gave us plenty of reasons for optimism. And indeed, six months later in September the price reached $19.65. Currently, silver is trading near $17.75, up from $16.53, but still down from that…

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Gold ‘s Surge and US-Iran Have Little In Common

Gold climbed to a six-year high on rising tensions between the US and Iran following the assassination of Iranian General Qasem Soleimani. The safe-haven asset reached $1590 earlier today as #WorldWarThree started to emerge on Twitter. We hope WWIII remains just a hashtag. In the meantime, we are once again baffled by how the media…

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Gold Traders Better Off Ignoring the News

In our previous article about the precious metal readers saw how the Elliott Wave principle put us ahead of gold ‘s $72-decline from $1531 to $1459. In short, the hourly chart made us think a three-wave decline from $1555 was still in progress. Hence, the bears remained in charge and more weakness could be expected.…

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Explaining Gold ‘s Weakness With Elliott Wave Logic

Gold bulls suffered in four of the last five daily trading sessions. A week ago, on September 24th, the price of gold briefly exceeded $1535. Earlier today, it touched $1459 before recovering to $1466 as of this writing. In the meantime, global economic growth is slowing and several recession indicators are flashing red; In what…

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Famous Pattern Put Gold Traders Ahead of the Curve

Last week, gold finally broke out of the consolidation it has been locked in for almost a month. The price fell to $1400 before rising to $1453 on Friday, July 19th. But instead of maintaining the positive momentum, the bulls lost steam and allowed the bears to close the weekly session at $1425.66. Fortunately, a…

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Silver Looking for Support near $15 Mark

A little over a month ago, the price of silver was hovering around $16 following a strong rally from as low as $13.90 in November 2018. Many traders saw this 15% surge as a sign of even better things to come. Unfortunately for them, yesterday an ounce of silver was switching hands for about $15.…

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In Gold ‘s Elliott Wave Footsteps from 1200 to 1350

Gold bulls can be very pleased with their progress in 2019 so far. Three days ago, the precious metal climbed past $1346, bringing its total year-to-date return to 5.2%. Furthermore, gold is up 12.6% from its mid-November low at $1196. “Uncertainty” is once again the usual reason people use to explain gold’s surge. Trade war…

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Silver Entering Bearish Reversal Area

The price of silver fell to as low as $13.90 on November 14th. It has been recovering ever since and is trading above $15.90 as of this writing. This means silver has gained over 14% in just two and a half months, making it one of the best investments in 2019 so far. The bad…

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Gold Price Followed Its Elliott Wave Path to $1300

Gold’s third consecutive week of gains led the price of the yellow metal to the vicinity of the psychological $1300 mark earlier today. On December 14th, the price of gold fell below $1233, but according to experts, a combination of economic uncertainty, trade worries and rising interest rates sparked fear in investors, who hurried to…

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Gold Tests $1240 Resistance after Elliott Wave Setup

Gold is trading at levels last seen over a month ago, following mixed signals from U.S. and China on trade, Brexit worries and protests in France. The demand for safe haven assets is thought to be increasing at times of political and economic uncertainty, which helps explain the surge in the price of gold. On…

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Gold is a Bad Inflation Hedge. Still Watching CPI?

Similarly to crude oil, gold did not start November in the best possible way. The price of the yellow metal reached $1237.50 on the first day of the month, but was down to $1196 by November 13th. Unlike crude oil prices, however, bullion managed to reverse the negative trend and bounce up to $1230 yesterday.…

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Gold Prices Under Pressure Amid Easing Tensions

North Korea’s Kim Jong-un appears to have finally come to his senses. The isolated communist country announced it will discontinue its nuclear tests and close down its test site. The North Korean leader will meet with U.S. President Donald Trump in June to discuss the Asian country’s complete denuclearization. And while peace in Syria is…

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