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przemyslaw-radomski

The Frightening Pause in Gold and Silver #2

October 11, 2018, 8:37 AM Przemysław Radomski , CFA

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We didn’t see any meaningful action in the precious metals market yesterday, as the general stock market stole the spotlight. The S&P 500 declined profoundly after invalidating the breakout above the January 2018 high. In our Monday’s analysis, we explained that one shouldn’t count on any meaningful rally in gold if stocks decline or become very volatile and that’s exactly what we saw. Nothing really changed in the PMs. What’s next?

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Dec Market Overview

Gold Market Overview

There are plenty of myths about the gold market, in particular about the alleged factors which are supposed to prevent gold prices from declining. In this edition of the Market Overview, we refute five of them:

1. Trade wars and lax fiscal policy are negative for the US dollar and positive for gold.
2. Central banks’ purchases create a floor for gold prices.
3. The price of gold cannot decline and stay below the gold production costs.
4. There is a disconnection between paper and physical gold prices and the former has to catch up with the latter eventually.
5. The extreme bearish CoT positioning necessarily implies the turning point in the gold market.

Read more in the latest Market Overview report.

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