Gold Lethargic
Yesterday with the Dollar Index Down…Gold barely had a pulse
Today the Almighty Yen has Dropped but again Gold just sits there.
Boring
Yesterday with the Dollar Index Down…Gold barely had a pulse
Today the Almighty Yen has Dropped but again Gold just sits there.
Boring
Armstrong/Socrates warning of potential GDX waterfall event. (no link, sorry) I like MA’s socioeconomics takes, but I’m not yet persuaded on his TA work.
I do see the potential for that on my charts, as my LT indicators in July have flipped to bullish, while price has declined. That supplies further pent up energy for when the indicators reinforce price.
GOEX is also topping on my weeklies.
My opinion is the market is simply pricing in higher interest rates.
The dollar is weaker against other currencies but is still stronger against oil.
Gold and silver dropping like, well, like a rock.