Bears had a rare chance to get short with impunity last week -- arguably the first such free-money opportunity since the bull market began more than 12 years ago.
Gold has been clobbered lately but a key metallic macro indicator remains in a long-term congestion zone. If it’s going to be cyclical ‘inflation ON’ we’d expect Cu/Au to break..
Producers have pricing power, buyers are willing to buy what they can get their hands on. Gold's selling is overdone, BUT if gold hits new lows then ..
Exchange-traded funds (ETFs) continue to sell gold, bringing this year's net sales to 7.27 million ounces, according to data compiled by Bloomberg. Total gold held by ETFs fell 6.8% this year to 99.8 million ounces.
Gold's weekly chart shows the 18 week moving average as resistance with no trend. The weekly chart shows us nothing, waving back and forth without momentum.
