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Market Commentary

Short, timely takes from named strategists — what moved the market and what to watch.

WatchGold Team· Robert Gottlieb Saxo Commodity Strategy· Ole Sloth Hansen

Robert Gottlieb · WatchGold Team · Oct 8, 2026, 6:59 PM

Geopolitics are back in focus. Impact on Gold & Silver:

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The Pentagon instructed U.S. Central Command several days ago to prepare for the possible resumption of major combat operations against Iran, according to an Axios report citing U.S. officials. The headline helped push…

Robert Gottlieb · WatchGold Team · Oct 7, 2026, 7:59 PM

No surprise today: U.S. rates are sharply higher, pushing the U.S. dollar higher and contributing to a significant selloff across #Gold, #Silver and #Equities.

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Despite the near-term pressure, my longer-term outlook for gold and silver remains positive. A key question is when geopolitical tensions, particularly the Iran crisis begin to ease, and U.S. rates ultimately move…

Ole Sloth Hansen · Saxo Commodity Strategy · Oct 7, 2026, 10:23 AM

Gold under pressure, but ETF demand tells a different story

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Gold trades 1.1% lower once again approaching key support around USD 4,100, as sellers focus on continued dollar and yield strength as well as renewed upward pressure on fuel prices. Recent selling by leveraged hedge…

Robert Gottlieb · WatchGold Team · Oct 5, 2026, 9:04 PM

A relatively quiet day in precious metals as the LBMA Global Precious Metals Conference gets underway in Sorrento, Italy. Implied Gold EFP is easing alongside volatility. Meanwhile, the Bundesbank is

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Crude is down about 1%, gold is up roughly $5, and silver is today’s standout, gaining around $1.00 after being hit hard recently. The implied December gold EFP on WatchGold.org is around $27.50 (4.37% annualized yield…

Robert Gottlieb · WatchGold Team · Sep 28, 2026, 3:19 PM

#Gold & #Silver — Total Capitulation as Crude and the USD Surge

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Gold and silver are getting hammered today, with crude oil up nearly 3%, gold down $172 (4%) and silver plunging $3.62 (5%), while the U.S. dollar continues to rally. This is exactly why I have been advocating patience…

Ole Sloth Hansen · Saxo Commodity Strategy · Sep 25, 2026, 9:28 AM

Gold holding up well during bond stress test

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Gold has so far managed the stress test from higher yields and a stronger dollar remarkably well, trading down around 2% on the week without challenging key support levels. Meanwhile, ETF holdings have continued to rise…

Robert Gottlieb · WatchGold Team · Sep 24, 2026, 10:18 PM

Gold & Silver: Same Old Story — Crude and USD Higher, Precious Metals Lower

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Same old story. Crude oil and the U.S. dollar continue to climb, putting pressure on gold and silver. What I find particularly interesting is that implied gold and silver EFP yields are finally moving lower along with…

Robert Gottlieb · WatchGold Team · Sep 23, 2026, 6:17 PM

#Gold and #Silver Sell Off as the USD Strengthens while Implied EFP Yields Remain Elevated

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Gold and silver sold off today as the U.S. dollar strengthened throughout the session. Rising crude oil prices are also adding to inflation concerns and expectations for further FOMC tightening, putting additional…

Robert Gottlieb · WatchGold Team · Sep 22, 2026, 9:34 PM

#Gold & #Silver Options Reflect a Range-Bound Market — Despite GLD Call Buying

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My good friend Ralph Mizrahi put out an interesting LinkedIn post on GLD options. He is a great source for following options activity, and there has clearly been some notable call buying. With that said, implied…

Robert Gottlieb · WatchGold Team · Sep 22, 2026, 9:32 PM

#Gold & #Silver Options Reflect a Range-Bound Market — Despite GLD Call Buying

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