So gold is looking ship shape, the miners are affirming the resistance break and woo hoo, I’m lookin’ good baby!
Except that this is the site that wants you to see its warts along with the positive stuff. Enter poor old Uncle Buck, taking a continued beating. The prospect that gold bugs are celebrating Unc’s demise is not a good thing for said gold bugs, unless Unc really is going to hell in a hand basket made of the Trump admin’s failures on just about every fiscal front imaginable.
Except that well, Trump’s fiscal stimulation probably always was going to be about weakening the dollar. Confused? Me too. Anyway, I am very very green in my positions lately and I’ll not look that gift horse in the face. But so far at least, I am also very very wrong on the US dollar.
Here’s the monthly chart probing down to the last vestige of support (if you can call it that), which is the 2016 ping down to 92.
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