The wave structure in the GPSI is an accurate indication of the blended precious metals price action. Primary wave 3 of Cycle wave c down started on August 7, 2020 and will draw the GPSI below $369.94 before it terminates, which is the wave a low in 2001. It’s also important to recognize that the 1970s, when the GPSI experienced its most robust gains, was a period of persistent rises in the PPI and CPI. The last four decades have featured very modest rises in those measures. Outright deflation should accompany the GPSI’s next period of decline in wave c. As credit deflation intensifies during the next bear market in stocks, gold and silver prices should fall below their 2001 lows.
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Edited by linrom1, 17 December 2020 - 01:07 PM.