The dollar is weakening and on the cusp of breaking down from the channel pattern it has traded in since 2008, signaling the start of a new secular bear market.
Gold stocks had been such a cast-off area. Producers, royalties, and maturing developers of mines. The whole world appears to be getting in on the play now.
The fact is, the employment market has been weakening for months. It was merely obscured by bad data and overoptimistic analytic spin rooted in wishful thinking.
For Celente, gold remains the ultimate safeguard, and he warns that ignoring it—like ignoring history—will leave Americans unprepared for what lies ahead.
The metals have already gotten a boost from rate cut expectations, so there won’t likely be much effect from the cut itself. That has already been built into the price.
