Changes to solar panel technology are accelerating demand for silver, a phenomenon that is widening a supply deficit for the metal with little additional mine production on the horizon.
The bottom line is gold technicals are very bullish after this upleg’s latest pullback. That has pounded gold back down near major support, eradicating early May’s serious overboughtness. Yet this strong gold upleg’s uptrend channel is intact..
I advised subscribers to take profits right at this trendline ahead of the jobs report. I was expecting that there would be an attack; it's occurred a little bit earlier than expected.
A piece of bear news that in theory means interest rates higher, a headwind for this market, didn't drive it to new lows. That was a sign to me that maybe we're getting to the end of this decline in gold.
America’s Independence Day holiday is over. Sadly, now it appears to be mostly about independence from gold… with macabre dependence on debt, fiat, and violent meddling in faraway lands.
