To this end, while a retracement as deep as the 3050SPX region has become much less likely, I would still like to see a higher degree retracement back to the 3330-3450SPX region in the coming weeks.
Silver would have crashed a lot more but was saved by the best month in a decade for industrial metals. Copper and zinc were the leaders. The untouchable aluminum also rose.
The largest gold-backed ETF, the SPDR Gold Trust, is headed for its largest monthly outflow since 2017. The ETF has already lost over 50 tons of bullion so far in November.
