In the gold market, you're down a little bit this week from the 18-week average. Gold could go either way from this level. It's at a very important crossroads.
The dollar went up five points and metals are under pressure. When the dollar is stronger, it makes gold more expensive worldwide due to currency conversions.
According to JP Morgan, an eventual push lower in real yields as the Fed moves towards cuts will catalyze further upside for gold prices in the coming year.
Savage is calling for a huge bull market in gold. A move to $5,000 is easy for this many years of consolidation, and $10,000 gold is not out of the question.
The next 2 days will decide whether a short-term top has been formed in gold and silver or will the rise continue. I am against buying gold and silver at current price.
