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Jonathan Da Silva

Jonathan Da Silva

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Jonathan Da Silva developed a passion for hard money and economics from a young age having been influenced by family who sought to teach me that "nothing is free", and the importance of intrinsic value early on. My interest in markets grew keener during the great financial crisis of 2008; leaning on family with vast trading experience, I began to self-educate on technical analysis and economics- drawing inspiration from the works of individuals like W.D. Gann and Adam Smith. I have been a proud member of the Kitco team since 2017 and hope that my writing inspires readers to consider an objective view of the metals, and the greater financial markets.

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Contrarians watching the USD

(Kitco commentary) - Last week we wrote that the FED might give a reason for the market to take the DXY up to 115; when Jerome Powell said that he wants positive real interest rates, the market responded.

Gold bulls hold the line before impending rate hike

(Kitco commentary) - The SPY looks to be on the brink of finally closing the remaining downside gap we have been highlighting since we proposed stocks had topped again (for the medium term) in mid-august, at major resistance.

Will Jerome Powell have to go full "Volcker" ?

(Kitco commentary) - We mentioned last week that we thought it might take a Jerome Powell "more hawkish than is currently expected" to break gold down from its two-year major support.

Gold resists meteoric USD

(Kitco commentary) - Despite the dollar steam rolling higher, the negative divergence in price versus relative strength on the weekly timeframe, continues to grow. The chart below has been updated to highlight that divergence. The chart also displays how the DXY began it’s ascent in August of last year.

Fed's Powell helps persistent USD

(Kitco commentary) - We started looking at the upward trend in the dollar months ago, having highlighted a clear rising channel in the DXY.

Cold PCE provides hope?

(Kitco commentary) - The FED has succeeded in raising rates in the most aggressive fashion in decades without causing stocks to melt down uncontrollably. Can we soon expect the mainstream economic media to begin pushing (incept) the idea of the beginnings of a “soft landing”?

Metals supported as stocks look weak

(Kitco commentary) - The stock market looks primed for further losses. The below daily chart shows that stochastic RSI is dipping into the oversold condition.

Gold down, but not out

(Kitco commentary) - Gold bulls failed to successfully defend the $1740 - 50 spot area in a Sunday night sell-off that seasoned metals traders have often observed. That said, metals have a tendency to “overshoot” support and resistance areas.

Stocks at resistance - beware of breakout

(Kitco commentary) - Stocks have continued their ascent, but a caution to the bulls: Price is tagging major resistance.

Gold bulls give some back. Now what?

(Kitco commentary) - The triangle pattern in gold we had suggested favored a break to the topside, has failed. The below chart on the 2 hour timeframe shows the breakdown point and follow through lower. We had also suggested that should the pattern fail, bulls would put up a fight in the $1740 - 50 area, now highlighted below.