A full-blown selling panic has yet to occur since the bear market began in January, but there is no way that this initial phase of the bear can end without one.
Since the commencement of the 21st Century (1,123 weeks ago), Gold -- including this current stint -- has recorded five consecutive down weeks on ten occasions...
The trading sentiment is very weak among precious metal dealers and base metal dealers. Those who did not hedge in futures have incurred losses on their physical stocks.
Gold needs to hold yesterday's low, but the trend has not yet changed. Hard to find a bottom here. $1,743+ would help to just start to gold get out of this hole.
