Loading ...i like that silver is down only 2 cents and gold down 12.20—no panic for the dollar cause dow futures are down 420-the $ is down .110—no big deal but DOWN—the relative strength in silver is impressive….all these factors taken together tell me there is a chance that gold has just pulled back for the pause that refreshes…and it’s not starting a 1 to 3 month correction—in which case I would just pack up and say “see you in a month or two”.
Even though gold lookd looks friendless and weak as a new born kitten, I will probably try to buy it after the jobs report at 8:30 if they drop gold a bit more….of course the lousey report will be gold bullish–that’s a given but they may hit it anyway…then maybe some buying would flood in—-DYOD JMOl”
however the waves are suggestive more of the insanity (rising prices) should be expected after only moderate pullbacks. (for both stocks and PMs)
That is, for example, the HUI might pullback to test the 220 to 240 range, and then take another run at 280.