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Zero response in gold and silver with the huge drop in Euro. Looking better and better for Precious metals every day.
The thought is that once the euro bottoms in a few days then gold should deliver a nice rally for a month or two as the intermediate trends in the currencies take a breather. It does look promising although we’ve seen the bullion banks cap price multiple times even with the dollar dropping into an intermediate low.
I was hoping that a stronger USD would give us a dip in gold today / this week but gold and its miners are going up along with the buck.
looks we may test $SPX 2010-2015 then resume higher.
Nikkei down over 400 points currently. Might be a good day to buy on Tuesday.
I would advise waiting for a swing before trying to buy, and a safer play would be to wait for the next daily cycle low during the first week of February, just in case the market is setting up for a short intermediate decline.
Thanks Gary.
Fresnillo was what I have been keeping my eye on but it is at the price point already where I would be looking to be bailing out. Need a drop in the price of gold.