AG Thorson Blog | Talkmarkets | Page 1
Registered CMT, Technical Analyst
Contributor's Links: GoldPredict

AG Thorson is a registered CMT and expert in technical analysis. His regularly scheduled reports are released every Sunday, Tuesday, and Thursday. For more information, please visit


Latest Posts
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Gold And Dollar Update
The days surrounding Friday’s employment report are crucial. If the dollar bottoms around 92, that could trigger a multi-week correction in gold, potentially severe.
Gold In Striking Distance Of 2011 High
Gold prices are within striking distance of the all-time high set in 2011. It would be unusual for prices to break out to new all-time highs on the first try. Consequently, I still think prices could peak and begin a correction back towards $1550.
Precious Metal Prices Collapsed
Precious metal prices collapsed throughout the week, especially on Friday. I’m curious to see next week’s COT report. I bet the commercials reduced their short positions dramatically.
Gold Futures Continue To Work Their Way Lower
Gold futures continue to work their way lower after peaking in September. The topping process appears complete, and the next wave of selling could begin any day.
Gold – The $1490 Level Is Critical
Gold futures are holding support around $1500 ahead of tomorrow’s Fed decision.
Gold Forecast – Preparing For An Autumn Low
Gold futures are trying to hold support near $1500 ahead of next week's Fed announcement.
Gold Fails To Maintain $1550
Gold hit $1565 Monday morning but failed to maintain $1550. Gold futures finished the week below support at $1535. A collapse below $1500 in the coming days would support a replay of the 2002 pattern and maybe a backtest of the $1360 breakout area.
Gold Prices – The Big Picture
With gold confirming a new bull market, it’s time to step back and look at the big picture.
Gold Stays Buoyant
Gold remains buoyant as prices examine resistance surrounding $1525. The odds still favor a top in this area, but we probably won’t see a meaningful correction until Treasury yields begin to stabilize.
E Metals And Miners Are Beginning To Correct
Gold and silver formed significant outside reversal days, and a top is possible. Gold would have to recapture $1525 relatively quickly to restore yesterday’s short-term breakout.
Gold May Be Topping
Gold rallied to significant resistance surrounding $1525 on fading momentum. Prices could probe a little higher, but I think the technicals and extensive commercial short position favor a topping process for the yellow metal.
Gold Reached Significant Resistance
Wednesday’s surge in gold above $1500 was fueled by stock market fears and a capitulating bond market. The 10-year treasury yield crashed to 1.59% on Wednesday, and an interim low is likely.
E A Wild Day For Gold
What a wild day. After reaching $1412 this morning, gold prices began to bounce. Prices were near $1430 around 1:30 when the Trump administration announced additional tariffs of China starting in September.
E Gold Due For Cyclical Pullback
Gold rallied $185 in about two months and prices are due for a cyclical pullback. A daily close below $1410 next week would support this theory, and I’d look for a bottom in the first few trading days of August.
Gold Rally Just Getting Started
Ray Dalio believes the next decade (2020 -2030) will favor gold as governments will likely resort to debt monetization and currency devaluation to keep the system afloat. I agree with him 100%, and I think the rally in gold is just getting started.
Fed Announcement To Be Pivotal Event
The July 31 Fed announcement is shaping up to be a pivotal event. I think it will either validate a breakout in US stocks or send prices sharply lower. If stocks continue to rally after the Fed decision, then we will likely see an advancing uptrend.
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