You're about a 50% bounce in the market, as the market got overdone on the downside and now it's looking for its footing. The footing's been found temporarily, you're in an uptrend.
Those who followed the Fed to their detriment (and do not now heed my warnings) will likely continue to do so and assume that their lowering of rates will automatically mean that the stock market will continue to rally.
So if we take a look at the daily bar chart, the market was capped to $2150, the correction low back into the $1990 area, and you've made a good $50 correction.
This isn’t a time to buy more gold when gold likely continues to rally. Buying mine stocks produce fiat profits in a short time. Then, these profits can be converted from fiat to gold!
Gold’s pre-Christmas five-day gain at least by historical comparison is a great gift for the yellow metal going into next year. Joyeux Noël! Give the gift of Gold!
Gold is forging into new nominal record territory, which will attract investors. Gold miners’ stocks are cheap fundamentally with earnings exploding as gold powers higher.
Although Gold is hovering around all-time highs, the precious metals sector will remain in a secular bear market until the stock market and the economy crack.
