At the moment, the biggest issue are global central banks raising interest rates. Gold is fighting this and is unable to overcome this. Gold nearing its 200 day moving average..
Yes, Gold's price continues its lower grind, (the current Short trend in mind), but 'tis the Fed that's in a REAL bind. StateSide annualized REAL Gross Domestic Product just shrunk for the third..
A lone deflationist on the lunatic fringe of economics 30 years ago, I wrote in Barron's that an out-of-control dollar eventually would do us in. Specifically, I asserted that a short squeeze on dollars...
Metal markets struggling. Silver acting terrible. Copper, I would be on my toes here. Gold on the monthly charts shows the price breaching above the weekly Bollinger bands, starting to open..
The general market rallies have trouble holding. Gold back to key supports. 100 day moving average support and Bollinger band supports converging, market is oversold, short covering bidding:
The bloodbath phase in the Euro, usually last 5-7 days, so a top in the US Dollar as early as by the end of this week. Implications for the metals and a lot sooner ending to the sell-off in gold/silver stocks.
How might that impact what the Fed will do and say? What if this leads the Fed to hike just 50 basis points and Powell's press conference is deemed "surprisingly dovish"?
