Loading ...The worst indicator I’m seeing is that GLD has dropped just below the 50 dma for the first time all year. Hopefully as the day goes by it pops back above and is a head fake down.
The silver shares seem to be outperforming. Not sure why.
It appears for some reason everyone think the risk off trade is back on and commodities are getting worked across the board, but mostly pm’s and oil.
All the action makes very little sense given the dollar weakness and rates falling.
Gold hasn’t moved in quite a while now and it always seems with gold if it’s not going forward it’s going backward. That bothers me, but the action in the dollar should be friendly if it continues.
The hope is that this might be very temporary. We’ll see how they close them.