Global holdings in silver-backed ETFs hit the highest ever on Wednesday, according to Bloomberg calculations. The iShares Silver Trust took in half a billion dollars in inflows on Tuesday, the biggest inflows in seven years.
Technical chart updates on gold and silver equities.
COT US Dollar Index Report - Positions as of Tuesday, January 19, 2021.
Conspiracy theories are running so rampant right now that the average American doesn’t know what to believe.
Gold ran the stop orders at the start of the week, making a lower-low but with a higher-high. Not in a trend short-term.
Since additional stimulus has not been announced, traders will shift focus to FOMC meet next week.
Once the bubble top is hit, we will see sideways action then a period stagflation and then severe inflation.
Gold is near a series of resistances. The bigger question, did gold hit the bottom of this correction?
Silver, copper, palladium and rhodium should be very bullish in the long term due to environment protection measures implemented by Biden.
Gold market has down bias. $1,871.90 is the 18-week moving average. Other key moving averages just above.
