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After The Golden Gap

By Tim KnightCommoditiesOct 05, 2022 01:14PM ET
www.investing.com/analysis/after-the-golden-gap-200630704
After The Golden Gap
By Tim Knight   |  Oct 05, 2022 01:14PM ET
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Yesterday I did a premium post called Golden Gap, in which I wrote:


Over the past six trading days, precious metals have managed to mount a hearty recovery, thanks to the (long-awaited) break in the U.S. dollar’s relentless climb. I would like to suggest, however, that gold – which has done an excellent job of disappointing precious metals fans for the past seven months solid – may be reaching an important resistance point in the form of that island reversal gap.

In other words, I think this might be just about “it” for now.

SIlver Chart.
SIlver Chart.

Silver, for example, is down 3.5% right now, so this seems to be going all right so far.

Silver Futures Daily Chart.
Silver Futures Daily Chart.


My view is that the precious metals are not going to be excused from the All Assets Going Lower situation that we’ve witnessed, and will continue to witness.

Sadly, they don’t seem to be as special as I once imagined. They’re just another luxury asset, little different than common shares in Alphabet (NASDAQ:GOOGL).
Gold Futures Chart.
Gold Futures Chart.
After The Golden Gap
 

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After The Golden Gap

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