The U.S. dollar hit the skids this past week. As to the markets we may have some small buy signals but we await confirmation not only for the market but also for gold.
My rationale for shorting BLDR is that it is a “leveraged” play on the housing market and new construction. As with homebuilders, when the market is hot BLDR’s revenues and margins soar.
Central banks are raising their gold buying targets. India’s reserve bank of India nearly doubles its gold purchases to 65 tonnes in financial year 2021-2022 to 760.42 tonnes.
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..
