When we take a look at the gold, you’re in a corrective mode. You’re down 1.28% for the week and you’re still over the 18-week average support of $1987.50.
Gold closed December, making weekly, monthly, and quarterly all-time closing highs, but its upside momentum failed to materialize. Gold to $3,000/oz and $4,000/oz will not materialize until...
When you look at the gold, I hope that the market gives you a break back to the 18-week average of closes at $1986.70. It would be the ideal situation that if you can hold there, then you start anew.
The Fed is playing a game of chicken they cannot win. Over the last 15 years, they have convinced almost everyone that they are able to control the markets based on their actions.
Unlike the trillions in debt attached to the US and many global bond and currency markets, gold has no such liability as it pays no income and is just an old rock that ancient societies used as money.
Directionally near-term for Bitcoin, we’re clueless. Broadly for Gold we’ve no concerns. But for the Casino 500, we’re worried the whole roulette wheel could fly right off the spindle..
