← Back to All Videos

A-Mark Bullion Update

Blog Jan 26, 2016

A-Mark-Precious-Metals-IncOver the last three weeks, the 100 day moving average (currently at $1,106) has rejected gold’s advances on four separate occasions.  Yesterday’s equity market sell off finally encouraged enough safe-haven bids to lift gold over this hump though. Traders who were short gold ahead of the 100 day moving average were forced to cover positions which has allowed gold to reach three month highs this morning.  Should gold’s momentum continue upward, the next major resistance level is the 200 day moving average at $1,133, a technical indicator it hasn’t been above since October of last year.

Gold’s inverse correlation to equities has been particularly strong lately.  The fact that gold is up today while equites are also moving higher is a good sign that it wants to challenge new heights in the near term.  Recent physical statistics also give credence to gold’s price action.  Chinese gold imports from Hong Kong surged to the highest level in two years in December, rising to 3.56 million ounces from 1.89 million in the same month a year ago.  Gold ETFs have continued to add to positions this year with the largest SPDR ETF currently standing at nearly 21.5 million ounces.  While not expected to cause too much market angst, keep an eye out for tomorrow’s FOMC meeting.

Secure Your Future With Gold & Silver

Access expert advice and transparent pricing—backed by decades of leadership in retirement protection.
Schedule Strategy Call

Sources & References In This Article

Similar Posts

Blog Jun 2, 2025

$100 Billion ‘Ghost Field’ Discovery Could Power America for 30,000 Years

Learn More
Blog May 19, 2025

ECB Sounds Alarm on Gold Surge – Fears Will Trigger Financial Collapse

Learn More
Blog May 14, 2025

The Economic ‘Storm’ Will Get Worse: Is the U.S. Headed for a Radical Reset?

Learn More
Blog May 5, 2025

Will U.S. Basel III Unleash Gold? BIS’ New Reset Plan

Learn More
Blog Apr 30, 2025

China ‘In a Panic’ to Start War, The U.S. is Preparing : Gordon Chang

Learn More
Blog Apr 29, 2025

O’Leary: Mark Carney Faces ‘Hell of a Time’ Fixing Trudeau’s Economy, Sees Early Election

Learn More
Blog Apr 28, 2025

No Gold? You’re Doomed In The Reset War

Learn More
Blog Apr 25, 2025

Fed’s Desperate Bid to Stop Gold Price – Why it Will Backfire

Learn More