Gold Jumps for Joy Only to Hit the Ceiling… Hard

From sunshineprofits.com

Powell’s recent dovish remarks started a sugar high among investors. However, it seems like the hangover has already begun. The Gold Miners While gold, silver and mining stocks jumped for joy following Fed Chairman Jerome Powell’s dovish remarks on Jul. 28, their sugar high ended on Jul. 30. And while I warned that FOMC press conferences often elicit short-term bursts of optimism, it was likely another case of ‘been there, done that.’ I wrote prior to the announcement: While the PMs may record a short-term bounce – which often occurs following Powell’s pressers – lower lows are still likely to ... (full story)