I left with everything fine and came home a couple hours later to see that the gold sector along with the rest of the anti-USD ‘inflation trade’ got hammered today. That’s what you get with the Treasury weasel and his boss jawboning the currency markets trying to keep the racket going (ref. yesterday’s upside excitement).
Anyway, opinions aside, Huey filled the Mnuchin hype gap and is still intact from a technical standpoint. See the little gap down there at 189? One wonders if the next correction after this rally’s top will address that.
IMO the gold sector is going to get punished for participating in the party. But the writer bugs aren’t going to trumpet that (although the fringe element will surely trot out the tried and true manipulation conspiracies). Another insists that India and China are the fundamental underpinning. He uses !!!!!! and everything! It still says here that the best for the sector comes after the punch bowl is emptied.
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