Fed Chairman Jerome Powell spoke on Tuesday and signaled the central bank will continue to support the economy and is nowhere close to unwinding its easy policy.
Gold continues to struggle and $1,700 is now looming. But silver, platinum and copper are holding up and leading. That supports our belief that once this passes we could embark on another strong up move. But there are gold bears out there too.
The possible double H&S bottom is why I decided to pick up some silver stocks over the last several days. I know it doesn’t feel like it but if you look at the price action beginning at the 2020 March crash low to the August high that was one heck of an impulse move.
