Chinese economic growth has disappointed in April. This is the sole reason for the selloff in price of copper, zinc, and aluminum price. Short term technical breakdown added to fears of bulls.
But the more morose lowlight was the comprehensive shellacking of Silver, her selling overdone indeed! And it all happened in just these last two trading days..
The bottom line is big US stocks’ latest quarterly results looked bearish. Their collective revenues barely grew, actually shrinking when adjusted for inflation.
Every attempt now to break to new record highs is being blocked. We knew this was going happen, but the issue for the gold cartel is the that the banking crisis is long from being over.
Gold bouncing between the bands. Silver tanked after Chinese economic came out and it stinks! Foreign orders are weak and that slowdown hit silver and copper..
After a move like we had in gold, we have a churning process like this. Now a period of consolidation is needed before the next big move. People got comfortable...
