gotta love the lack of any excitement regarding the metals, as usual the market has done an utterly thorough job of making folks believe this stuff will never go anywhere, and maybe its not ready yet (one more 4/5?) but then again with so many looking for lows in Dec or Jan maybe its surprise time? I just keep looking at that SIL chart and I like the chances a FINAL corrective low from the Aug 2016 high might be in place. Hell, bitcoin gets more posts then the metals!
BSing away
Senor
i am looking at this thing, since the 15 low as a 1-2 1-2 above 1309 will perk me up as a possible ramp through the last set of highs and a breakout of the base. 100% chance of a rate hike in december. as a contrarian, i have to bite on the other side of that. the hike is already baked into the gold price cake. what if it doesnt happen. what will that do to the dollar. the price of gold . all the while gold is chopping folks to death -bulls and bears. going sideways. also the agenda calls for tax breaks. what if , much to our surprise , they cant get anything done. . gold bottomed in 99 or 01 depending on your view. either way a move occurs in 20%of the time w/say 80% price appreciation. this set of 3 8.6 yr cycles will be ending in early 23 buckle up 18 will be a decisive year, imo. that fox trot 1-2 1-2 might soon speed up the pace. talk about blood running in the streets.
dharma
funny as I think the rate hike is meaningless as I agree with you that gold can often rise with rate increases, I think this tax cut is way more important and if it passes both house could be very gold bullish - just my take and I could be dead wrong.
