For those concerned about $GLD $IAU $SLV going up long term, look at this as a multi-day/week event. It will go up, but it likely needs to pull back more first. It's not news/media that's pushing this down, but rather simple mathematical Fibonacci trends and channels that are following through. $DXY (the US dollar) will continue to rise until it either hits the top of its trend line or the edge of the channel. Gold ($XAUUSD) and silver ($XAGUSD) will continue to fall until it does. Sure, there will be micro-ups... but my personal recommendation is to wait until Gold gets to the bottom of the channel, and DXY gets to the top.
I'm not a professional or an analyst by any stretch of the imagination. This is just what I see right now.
I'm not a professional or an analyst by any stretch of the imagination. This is just what I see right now.
