- We have been expecting a major reversal over the past few weeks. We seem to be establishing the lows that we were expecting at current levels.
- Fundamentals tend to lag the market. Sometimes when everyone is buying up top, as when gold was at $2084, all the fundamentals were bullish.
- But now we are down about $223 from that high, yet the fundamentals, for the most part, have not changed.
- The pandemic is still crippling the global economy, US-China tensions are high, we have a highly volatile US election looming, and Black Lives Matters is pushing for social change.
For further details see:
Gold: And You Thought You Missed The Move? Think Again