Despite a 75-basis point interest rate hike by the Fed last week and a surging U.S. dollar, there are other factors emerging that support gold. The Bank of Japan spent $19.7 billion..
The precious metals complex is in a positive risk/reward situation, but that is different from a situation imminently ready to resume a bull market. It’s a process. A long and grinding one.
We get asked questions as to whether we are headed for a depression so we look at some comparisons and differences with the 1930's and how the 90-year cycle of depressions appears to be in play.
Energy markets looking at production cuts next week at the OPEC meeting. Gold is back near the 18 day moving average at $1685.90. Now a relief rally is occurring, gold's momentum flipping..
The big question now was this event big enough to put a trading bottom in the markets? Gold made a lower low and then reversed. We no longer have a downtrend.
