first majestic silver

Gold Price To Churn Sideways For A While?

August 6, 2016

In my last analysis I noted that gold and the metals sector in general were too stretched above the 200-dma - and would likely have to churn for a while before the next leg up could begin. After seeing the sell-off following Friday’s employment number, I think I probably called that one correctly. The metals may have to churn sideways for most of August before the next rally begins.

I’m going to go over in detail this weekend, what I think the sell-off on Friday in the metals means for the sector. Hint: It’s not that bearish.

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If there are any of you left that haven’t gotten on board the SMT, here is another chance. 10% off the regular annual subscription price good for this weekend only. Buy a regular yearly subscription - and I will refund $20.

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In 1934 President Franklin Delano Roosevelt devalued the dollar by raising the price of gold to $35 per ounce.
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