If you look at the gold chart below you will see three different legs down – two waterfalls and one slow walk. All three, so far, have been right around $3-$4 drop each. If you have been following along for the past several years then you already know the overnight action – the slow walk to the downside – was a set up for the London “market” to open and then hammer both metals to the downside. We have seen the exact same pattern over and over and over for many years. Nothing new, everyone should be expecting it and no one should be surprised to see these truly ugly or truly beautiful charts. All part of the dance.
Our part is to take advantage of the beatdown and add to our stack. As we have been saying for some time now, the second half of 2019 and going all the way through 2023 and beyond, we will see the metals moving to higher ground. Once they reach new highs they never come back to the range we are seeing today. We will be taking advantage of this situation and adding to our position. Since we don’t offer financial advice you are welcome to do with your funds as you wish.
There are static charts below these live charts to capture the action we are discussing.
