Gold was caught by the European Central Bank, which announced it's going to keep raising interest rate hikes and said they will get inflation down, and that took the gold market down.
We have reached the decision point that we have been expecting for many months, and this summer will likely tell us which side (bulls or bears) emerges victorious.
Barrick’s interest in buying a $17 billion copper miner provides the starkest evidence yet of a shifting focus at the company whose origins lie in Nevada’s gold veins.
The metals market is a prime market where you can make a lot of money. We have made our first test of the resistance zone. We are in the correction. This is going to be your buying opportunity.
Intriguingly, since the world came off the gold standard in August 1971, gold has gained 4,487% vs. the DJI up 3,855%. Seems to pay to hold a little gold in one’s account.
If you look at the weekly bar chart, you are falling down red rather hard. You have a pattern of lower highs and lower lows. What's that the definition of? Bearishness.
The Fed sure was tardy, but gold had been forecasting the hawk for quite some time before the eggheads actually got off their “transitory inflation” stance.
