Pic-luck!....Note my message that this replies to.
Well, gold bottommed at $1361 and silver $28.34 right on cue at 8:30 EDT....the THIRD or FOURTH TIME this area has held support in a month's time! I just may have nailed it...BUT the REASON could be different.
It seems that world interest rate HIKES are being leaked to the "boyz" in advance and they are trashing G&S a day or 2 in advance. Since G&S always react negatively INITIALLY to lower rates [China and Thailand this time], they sell ahead and then cover on the news.
Anyone living amd observing G&S in the 70s knows that higher rates actually are BULLISH for G&S longetr term, so a quick recovery could be in order...a bit too early to celebrate.
Holding those December lows is BIG if G&S can reverse here when almost no one expects it. We will know by Monday, but today should reverse nicely if these lows hold for 3 hours.
Knowing what to look for is what aaalws us to sleep at night. I am encouraged here and hopeful the HUI and GDXJ willl show unusual relative strength today....pic
