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Free MCX Trading Tips is the MCX market leading advisory company & news authority for Gold Updates and analysis. Our A-List of industry most important gold analysts and contributors includes:

Billionaire Fund Manager Eric Sprott, CEO of Sprott Asset Management provides unique point of view on the gold, silver, and mining sectors as well as the PHYS and PSLV physical silver and gold ETF funds.

Famous mcx trader and gold expert Jim Sinclair, who call the top of the 1980’s gold bull market to the day and the decision-making Chairman of the Singapore Precious Metals Exchange and the acting CEO of Tanzanian Royalty Exploration (TRE) offer analysis on the gold market and assist investors with the knowledge needed to exit the present monetary system.

Editor of the Hat Trick Letter, The Golden Jackass Jim Willie offer in depth analysis of the gold, silver, and financial markets with source deep in the gold and silver bullion industry and financial markets.

On this blog, you’ll find every one news related to the gold price and physical gold market. If you desire to stay up-to-date with silver, please check out the Silver News section blog.

Gold Update Today - Free MCX Trading Tips

After a severe selloff, precious metals have enjoyed a bit of an interval. Correction is a purpose of time and/or price. The improvement to the latest selloff has been more in time than in price. Metals and miners have stabilized over the past nine trading days but have not rebound much in price terms. Gold has barely rallied $20/oz while VanEck Vectors Gold Miners (NYSE:GDX) and VanEck Vectors Junior Gold Miners (NYSE:GDXJ) have rebound less than 4% and 5% respectively. In addition to the weakness of this rally, the gold stocks are generous a negative deviation and that does not bode well for an end of the year rally.

The negative deviation is visible in the everyday bar charts below. We plot gold the length of with the gold stock ETF’s and our own “mini” GDXJ index. The price action in gold since October looks positive. The market has held its October low and the 200-day moving average. It could have a possibility to reach $1300-$1310. Though, the miners are proverb no to that possibility. Everything from large miners to small juniors made a new low while gold did not. The 2nd negative difference is in regards to the 200-day moving standard.

Gold has corrected $100/oz over the past 7 weeks but the relevant feeling indicators do not indicate much of a shift in response. In the chart below we plot the net approximate position in gold as a profit of open interest (Gold CoT) and the SPDR Gold Shares (NYSE:GLD) put-call ratio. The CoT remains eminent at 40%. The two significant lows of the past 12 months occur at 16% and 26%. The put-call ratio (which is round by a 20-day moving average) has some work to do before it reach a height associated with market lows. Lastly, gold is not oversold based on a easy 50-day ROC.

The comparative weakness and negative deviation in the gold stocks joined could mean to lower gold prices by the end of 2017. Gold has significant support at $1260 and if it loses that it threaten a refuse to $1200-$1220. The gold stocks are covering gold across the board with the most horrible performer being the smaller juniors. Gold Update given the weak technical and dubious fundamentals, we will carry on to wait for lower prices, worse sentiment and a low risk buying opportunity in the coming months. The good news is those who buy weakness in the months ahead can position themselves for strong income in 2018. In the meantime, find the best company and evaluate their possible value and catalysts that will drive buying.