Follow The Bottom Violation
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Mar
3
Gold Forms a Trading Range as Investors Prepare for Inflation
Last week, I posted a video analysis of the silver market, pointing that before huge upward moves, technicians frequently look for consolidating trends. This week, I’m posting another video technical analysis which shows confirmation of that consolidating trend in the precious metals.
If inflation is coming hard, there is no better forecasting metric than precious metals; this has been true for eons. And bull market trap is always a relatively slow consolidation — in any security. These sideways trends only make me that much more bullish on the prospects for commodities, energy, and metals. Every indicator is pointing toward the perfect storm…
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Disclosures: Paco is long TBT, UCO, and gold. He also holds U.S. dollars by necessity, pending the advent of private gold-backed currencies.
You can buy his novel Discipline wherever books are sold.
3 Comments so far
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I respect your honesty and your opinion. I’m a man. I never read comic books. I don’t know if i could have pointed to Iron Man in a lineup of comic book characters. And i don’t particularly like movies based on comic books. BUT I love Robert Downey Jr, Gwyneth Paltrow and Jeff Bridges, so i decided to give the movie a chance.
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I think inflation is a little early at this point, Once the fed starts raising interests rates watch out and run for the hills
Gold is up due to currency risk , inflation is later