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The Hightower Report

The Hightower Report

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50-point hike priced, but hawkish threats for June are not

(Kitco commentary) - Today will be a test of the gold and silver bullsâ?? resolve with the US Fed likely to hike rates by 50 basis points, but a portion of the trade this morning is still fretting over the prospect of a larger hike.

Deflation, slowing and a strong $ weigh heavily on metals

(Kitco commentary) - In retrospect, the upside action in the precious metals complex this week has been extremely discouraging to the bull camp, as the Russian Foreign Minister's comments regarding the potential for a nuclear war should have ballooned prices.

Corrective Action to Extend off Positive "Real Rates"

(Kitco commentary) - Gold and silver prices are under pressure again this morning despite a significant downside reversal in the dollar.

Inflation evidence mounts. but metals ultimately fear the Fed

(Kitco commentary) - Despite a stronger dollar and modest declines in crude oil prices, the gold market sits near its highest level since March 14 in the early going today.

Despite initial gains we are bearish to precious metals

(Kitco commentary) - While the US Dollar Index surrendered a significant portion of the overnight upward extension, it remains near contract highs, and US interest rates have broken out to the upside.

Technical bounce assisted by dollar weakness

(Kitco commentary) - We suspect that part of the recovery bounce in gold and silver prices this morning is the result of short covering from yesterday's large range down, with additional lift coming from an 8-day low in the dollar index.

Value might have been found yesterday physical commodity fundamentals the focus

(Kitco commentary) - Global equity markets overnight were higher in a catch-up to the very strong gains seen in the US on Wednesday.

Temporary corrective action

(Kitco commentary) - Global equity markets were mostly higher overnight with the exceptions the markets in Asia.

Focus returns to Ukraine from Fed chatter.

(Kitco commentary) - OUTSIDE MARKET DEVELOPMENTS: Global equity markets overnight were mixed without geographic pattern with the Russian market still closed.

Slow measured gains as an inflation focus settles in

(Kitco commentary) - By a process of elimination, the gold and silver rallies on Tuesday are thought to be the result of inflation fears. Gold and silver had not been particularly sensitive to inflationary developments, but they had been greatly impacted by Treasury yields, the dollar, and at times the oil market.