The critical 11-9 to 11-11 turn point time zone has brought in highs....new gold high at $US 1122 late yesterday with $17.74 silver. Today they have fallen to the $1106 and $17.20 areas....and HUI, XAU, ECU, ECUXF etc, all under severe pressure.
I personally like hard quick moves down so long as they are 1-3 days in length. Monday is mid month and low will be in by then if this is a short term reaction. If mid term reaction, then retrace could go as long as Dec. 7. I suspect the quick retrace so long as gold holds $1100.
The $US has spiked up .60 today to .7560 area....a big pop up from yesterday's .7478 low, and the DOW [down 50] and oil [down $2] are weak.
ECU silver has been targeted big time today....maybe influenced by some of the new Jr. Gold Index [GDXJ] action.
All we can do is let the next 1-3 days talk to us. One savior could be some great ECU news......pic
