China is considering setting up overseas gold warehouses to support international settlements via the Shanghai Gold Exchange, according to the People’s Bank of China (PBOC).
Will the market rally to 7,000 SPX? There is strong potential that the SPX has begun a multi-year bear market, with my next downside target being 3,500-3,800 SPX.
The intention to invest in dips is very high for gold, silver, and copper. India is expected to experience a cyclical period of high jewelry demand from April 28th to June 30th.
Since President Nixon nixed The Gold Standard back in ’71, Gold has already set the record for its largest intra-month low-to-high points-gain in history: +540!
Gold just soared to crazy-overbought levels, which ramps the odds of a major selloff. Retreats are very healthy for secular bull runs, extending their longevity and ultimate gains.
If gold finished here for the week, it'd be down almost one percent on the week. We've got the swing line still with higher lows and then the higher highs.
