I prefer a buy-on-dips strategy as long spot gold trades over $1890-$1895 zone and spot silver trades over $21.90-$22.20 zone till next week.
A profound change has come upon the macro. A nearly four decade long trend is done, kaput. A system saturated with inflationary policy is no more.
Gold is still trending downward and keeps slipping away. The next support line is the 1915 to 1920 area.
To buy more gold, I would need to see a price of $1850. For silver and the miners, I would need to see gold trading at about $1810.
All eyes on the CPI. The market will react in a big way to the CPI increase, and the question is: what does it do to the Fed's thinking for next week?
A percentage of your assets in cash now puts you in a position to scoop up incredible bargains in precious metals in the event of a crash.
August CPI comes out on Thursday and CPI will be released Friday. If the numbers are high, there's a chance the Fed will raise rates in response.
For gold prices, the effects of our long-term cycle lows are still hanging around. We don’t expect to see any meaningful up move in gold until December.
People’s Bank of China added about 29 tons to its gold reserves in August, its 10th consecutive monthly purchase, diversifying China away from the U.S. dollar.
There will be a medium term technical breakdown if gold, silver and copper and nickel fall this week.