The moves in gold (higher) and the USD (lower) over the past broken up trading week cold be shedding a light on what we could see develop in 2020. Chris Temple joins me to outline what traders are predicting for next year and what has to actually happen for the moves in both gold and the US dollar to continue and break key levels.
Chris Temple wraps up today with a recap of the Fed statement, Powell’s press conference, and the trade focused tweets from the President today. While it seems like nothing can stop the run higher in US markets it is important to note what some of the other markets are doing heading into 2020. We also comment on inflation because that is dominating headlines ever since the Fed meeting yesterday.
Joel Elconin joins me today with a quick comment on what could happen to finally make US markets go through a meaningful sell off. We also discuss the possibility of inflation finally picking up next year. A couple other sectors that are catching Joel’s eye is oil and financials. These are moving for different reasons but the oil price moves are a but suspicious.
Jordan Roy-Byrne joins me for a close look at the GDX and GCC (equal weight commodity index) charts. It all ties into the potential of inflation picking up in 2020 which could be a major driver not just for the precious metals. Jordan also shares some levels for gold and silver where he sees strong support.
The US dollar has moved down 7 of the last 8 trading days but has not fully broken down out of it’s uptrend. Chris Temple joins me for a close look at what is driving this move and what is key to watch moving forward. We also look to some of the other markets and sectors that are impacted by a falling dollar. However it is important to note that a breakdown has not happened yet.
Jordan Roy-Byrne joins me to chat about the recent relationship between the US dollar and gold price. Over the past year the two have moved up together but today was a divergence of that trend. Not saying that this one day is the start of a new trend but a falling dollar could bring on all sorts of new risks that most are ignoring.
Chris Temple, Founder of the National Investor joins me for a look at the significance of the recent attacks on the Saudi oilfields over the weekend. This is causing the price of crude to spike however it very well could be very short lived. What’s important for investors is to look at an reaction from other countries especially the US. Also will this bounce have any impacts on future economic data?
Jordan Roy-Byrne, Founder of The Daily Gold joins me to share his thoughts on what a bullish correction for gold would look like. With everyone saying gold is overbought and a correction is due the fact is that in bull markets price can continue to run and corrections are typically short term events. We discuss a lower level that would still be bullish for gold and just how important Friday’s close will be.
Here is what Chris Temple has to say about the Fed statement and press conference today.
This is part 2 of my conversation with Jesse Felder from the weekend show. Be sure to listen to segment 1 of the weekend show first.
Jesse and I chat about the Fed’s inflation targeting and how it could be changing soon. The Fed has hinted that a change could be coming as the rate continues to hold below their 2% target.