Gold Forecast: The Final Washout Has Begun, the Next Few Days are Crucial
Gold broke key support and miners are collapsing - the final washout is in full swing. If I were to rate the current panic on a scale from 1 to 10, I’d give it a 6. Could it get worse? The next few days are crucial. The Good News: The gold miners have been bottoming in late September for the last few years. Prices tend to peak in April or May and bottom just before October. If the cycle holds, GDX could reach a low in the next few trading days. To confirm a bottom, prices would need to close above the most recent gap. The Bad News: If GDX doesn’t bottom in the next few trading days, then the current washout could ... (full story)
- Older Stories
The infamous line - allegedly attributed to Americaís first president George Washington - came to mind while reading a recent Reuters report announcing the imminent imposition of ...
This comes as Japanese yields continue to nudge higher all through this week, with 10-year JGB yields touching 0.77% today: chart Since the BOJ allowed for yields to roam above the 0.50% mark, bond sellers haven't really let up and I reckon that policymakers still want to manage expectations somewhat so as to not let it roam towards the 1.00% mark too quickly. post: Japanís 30-Year Bond Yield Reaches Highest Level Since 2013 - BBG https://t.co/IQoumMAncz
Western nations and multinational corporations, severely impacted by Covid-19 restrictions and supply chain disruptions, are reevaluating their approaches toward China. While many ...
- Newer Stories
post: (US) House Republicans release stopgap bill to find US govt in attempt to pass it later today, on Fri Sept 29th (More at https://t.co/YI6E3aQsXS )
Nova Minerals has reported that six of seven holes drilled at its RPM South prospect in Alaska have returned assays that confirm large areas of near surface gold. RPM South is ...
post: JAPAN'S ECONOMY MINISTER SHINDO: JAPAN'S ECONOMY IS NO LONGER IN DEFLATION. post: JAPAN'S ECONOMY MINISTER SHINDO: JAPAN'S TAKING STEADY STEPS TOWARDS THE FISCAL REFORM TARGET. post: JAPAN'S ECONOMY MINISTER SHINDO: CHINA'S SLOWDOWN COULD BE A DIRECT RISK TO THE JAPANESE AND GLOBAL ECONOMY.