The gold price will normalize relative to inflated money supplies. That portends much-higher gold prices in coming years, catapulting battered gold stocks way higher.
In the gold, you can see how the market is just sort of hanging right here. You can see that you're up $16.80 as we're talking. There is no trend, you came down.
American traders will prefer to be long in gold and silver for the weekend and Monday holiday. There can be very sharp two-way price moves in gold, silver, and copper.
What I do know is gold in a downtrend, the next stopping spot could be the $2013.5 area, which is the 200-day average and the Bollinger Band is waiting for it right there at $2015.5 – so that's your support zone.
If you look at the balance sheets of many of the largest banks, you will see we have a ticking time bomb. We only saw the tip of the iceberg with the recent banking failures.
