Energy markets looking at production cuts next week at the OPEC meeting. Gold is back near the 18 day moving average at $1685.90. Now a relief rally is occurring, gold's momentum flipping..
The big question now was this event big enough to put a trading bottom in the markets? Gold made a lower low and then reversed. We no longer have a downtrend.
Rates keep rising, LOTS of havoc globally. Gold is stuck. OPEC talking about cuts. Russia will acquire carious regions by October fourth.. It is hard to get overly bearish on gold with all that is going on.
Market after market getting taken down. American goods are being priced out of the market with the Dollar. This is all engineered by the Fed.. Central Banks. Gold has no trend..
To think that #Bitcoin can come back anytime soon is defying history. It would take at least 10-15+ years for it to recover in price IF IT IS EVEN A VIABLE asset.
According to UBS, platinum has diverse end uses; 85%-90% of palladium demand is for automotive catalysts. Since April, there has been a 36% recovery in ICE passenger..
Can things get even worse? Yes! This past week the DJI broke 30,000, gold broke $1,675, oil broke $80 and the US$ Index soared to the highest level since 2002. DJI, gold and oil are all pointed..
