In summary, the last lows struck in each of this charts on September 8th should be used as a strong stop for anyone trading the shorter term in these charts. As long as we hold over that support, I am looking higher to begin the next rally phase
The world and global financial markets will be driven by “COMPARISON”. Trade war theme, covid, China and its continued deliberate worsening relations with the rest of the world and all the current bullish factors for gold and silver will continue.
Initial fall in gold and silver (post FOMC) will be met by investors and physical buyers. Bank of japan meeting, Bank of England meeting (in light of brexit issues) can cause greater short term volatility.
Gold-backed ETFs saw a ninth-straight month of inflows in August, driven by growing appetite in Asia. Collectively, 39 tons of bullion, equivalent to $2.1 billion, were added to ETFs in August with 7 tons coming from Asia.