There is no question left in my mind that this was the intermediate cycle low, but what I want to see is to see major follow through. Need to test this intermediate top quickly..
The Federal Reserve wants to let inflation run. Gold's trend is up, but if the market wants to back-off a little bit, $1,782 area is the big initial support.
I’ve been suggesting for some time now that the PM complex is trading at a critical inflection point where they can have a big move in either direction.
The market looked at the speech as very dovish -- absolutely no hurry to raise interest rates and tapering is not linked to raising interest rates. All the metals take off..
