Where problems will surface next remains to be seen, but the commercial real estate (CRE) sector is a prime candidate due to falling prices, falling demand, and rising interest rates.
As for gold, support is at about 2615.80, the 18-week moving average of closes. You have lost volatility, and the pattern is higher lows and higher highs.
Demand for gold bars and coins has jumped by an estimated 38 percent year-on-year to 163 tons through the first nine months of 2024. That’s the highest level since 2013.
On the four month gold cycle chart, the next low in the cycle comes around Dec 14 and the next high comes near the Chinese New Year peak at about Feb 5, 2025.
Gold took a nasty hit last Monday, November 25 as gold (and silver) had a mini-heart attack over stronger PCE prices and the ongoing resilient U.S. economy. Gold fell 3.5%.
So, while I know you are hearing many who are looking for 5000, 7000, and even 10,000 in gold in this rally, I strongly doubt that potential at this time.
