The USDX looks to have made a false breakout. Hedge funds and retail traders get suckered into right at the top. Same idea in silver, a false breakdown where dumb money..
There’s no guarantee that the GDX $30 and gold $1800 price areas represent any kind of “final low” for the current reaction, although there are a lot of technical green shoots in play, including..
Watching gasoline, heating oil prices as we head into the big holiday demand weekend and summer months. Interesting season ahead with a tight balance in play. Heading back to using coal?
The Federal Reserve has grown immensely since the 2008 financial crisis. The Fed has also become a flash point in the politics of the U.S. with some calling for its abolition. We are seeing the same thing here in Canada.
For Gold, which settled the week at $1845, the end-of-the-world crowd put forth a scenario this past week for a price of $40,000. We're content to realistically maintain a tenth of that per our Gold Scoreboard level of $4141.
The same geniuses who recently handicapped a recession that likely began several months ago as a 20% possibility are now reassuring us that the bear market has already run its course.
Almost everyone else continues to focus on the next upside leg for gold. In this article I will show some charts that allow for possible downside targets within the prevailing half-century uptrend.
