Loading ...James Mc…
Bill,
Lose/lose, via the cartel
For the past 3 months there have only been 2 possibilities when trying to trade the gold and silver markets. One option is selling a deeply oversold market; the other is trying to catch a falling knife. I have no desire to participate in such a lose/lose scenario. Sure, silver can fall to $13, and gold to $1130, but why tempt fate when the RSI has been in the teens and 20’s forever? On the other hand the relentless selling has repeatedly obliterated what looked like promising entry points. Besides that, 85% of the PM’s time has been spent in a coma, so why bother, unless you’re an algo churning mega-volume for pennies?
Let’s see if this week’s series of economic news events bring anything different than the big nothingburgers of late. Snowball in hell describes gold’s chances on hotter than expected PPI/CPI figures.
Next up: October gold op. ex. & first notice days in another 2 weeks. Sub-$1200 the cartel goal? History says YES. Maybe it’s the 6″ of rain we’ve received around here but the gloom feels palpable. Something has to give, and hopefully SOON.
James Mc