You can tell the market is backed off, it’s down for the week so far at this point at least 1.45%, $43. You can see how the market peaked out a week ago and came down as it’s getting this break right now and stepped out of the uptrend. The market is under the 18-week average of closes…
Now, as I look at the market it’s oversold – I’m not bearish gold. The trend can easily be down into the lower Bollinger Band, that’d be fine. It either embeds – an embedding requires the blue and the red lines get under 20, goes sideways together and stay that way. They didn’t even make it there. They haven’t made it at all. I have no reason to believe that gold’s going to do that. I think gold will be the beneficiary of inflation that all this causes.
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