first majestic silver

Gold: Where Is It Headed?

December 18, 2023

I tend to think that gold still has more to this intermediate rally and the reason I think that is as of right now the dollar is in the declining phase of its intermediate cycle, so here is the last intermediate cycle low. You can see the dollar has started to make lower lows and lower highs and its price is also below the 50-day moving average. 

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In 1933 President Franklin Roosevelt signed Executive Order 6102 which outlawed U.S. citizens from hoarding gold.
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