China has a mini vacation in the first week of October. Chinese consumers will spend aggressively during their holidays. Gold and silver demand (by way of jewelry purchases) in China should beat street expectations by a big margin.
In summary, the last lows struck in each of this charts on September 8th should be used as a strong stop for anyone trading the shorter term in these charts. As long as we hold over that support, I am looking higher to begin the next rally phase
The world and global financial markets will be driven by “COMPARISON”. Trade war theme, covid, China and its continued deliberate worsening relations with the rest of the world and all the current bullish factors for gold and silver will continue.
Initial fall in gold and silver (post FOMC) will be met by investors and physical buyers. Bank of japan meeting, Bank of England meeting (in light of brexit issues) can cause greater short term volatility.
Competition is supposed to be healthy, but when governments compete to see who can borrow the most money while paying their lenders little or nothing… that’s not healthy at all.
