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Gary Savage

Gary Savage Articles

I tried to warn gold bugs that this was likely to happen, that the intermediate cycle was getting late. This last rally failed short of making a new higher-high. The rally did not do what it needed to do. Gold is not just ready yet to "go...
I'm still a bit skeptical that the handle of the cup-and-handle formation is finished. Not just yet. Gold has to break the $1,920 area high, which gold could potentially do on this pretty powerful move.
Gold market is not an easy market to make money in. Up a little, down a little. Almost impossible to make sustainable gains right now. Virtually impossible to time the tops and bottoms during this churning stage.
We really needed to see gold make a higher high on this last rally and it does not appear that it will do it. Gold is vulnerable to more attacks on Monday morning. What could very well happen, a marginally lower low.
Here is the problem with gold. The last three times gold tried to get above the 200 d.m.a., it was not long before there was an attack.
These secular bear markets in the US Dollar lasts usually 6-8 years. The bull market likely ended early 2020. The $CRB has started a secular bull market.
Currencies are the most manipulated markets on the planet. The intermediate cycle low is over? Will the gold cartel attack gold here near the 200 d.m.a.? A hard stop below $1,760-pivot is a good idea, swing point, and we do not want to...
November third meeting for the FOMC, the US Dollar Index is correcting and a "big game" tapering talk will help it to reverse but this will fail. Gold will have a lot of attacks and probably unlikely to get above the $1,835 area and then...
Investors think they can just throw a dart at a commodity and it will go up. I suspect next year will be a lot different. Over a year and a half where commodities have gone straight up, and some of them have gone straight up...
The gold cartel will have a lot easier time manipulating gold lower here with a stronger dollar. As I have said many times in the past, metals are the second most manipulated markets behind currencies. Governments have an inflation problem.

China is the world’s biggest gold producer with more than 355 tons annually. Australia is second.

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