Trader’s Narrative

Earlier in the week we looked at the situation the gold market finds itself in with the precious metal sitting at the important $1000 level. I offered various takes on the technical position as well as the sentiment for gold. Here I want to delve in a bit deeper into the sentiment to see if […]

Gold is once again at the magical $1000 threshold. It was just a few months ago that I talked about the precious metal and mentioned that I spied the sign of a gold top. That was in early June when gold was trading at $980. That was a great call because into early July gold […]

While we’re on the subject of seasonality and how September is the albatross around the stock market’s neck these days, I’d be remiss to not point out that what has been historically negative for equities has been a boon for gold and gold stocks.
Last year, I also pointed out the positive seasonality of gold in […]

As a corollary to yesterday’s deflation discussion, I thought I’d cover the consequence for gold and gold stocks. The relationship between gold and deflation is a contentious one so I don’t think it will ever be put to rest. In any case, I wanted to point out an interesting relationship which you’ll be hard pressed […]

While the crude oil market has sharply corrected from its bubble heights, there is reason to believe that it still does not truly reflect the underlying demand and supply equation at the heart of price discovery.
Here’s a chart showing OPEC’s spare capacity in millions of barrels over the past 8+ years:

Source: Bloomberg
We are right back […]