JL; On friday lots stuff hit new lows, gold, VSE index, XAU, Tse gold Silver index, PDg. ABX........ corn..... Nikkei Index, RTS..... and may others also. U.S long tern interest rate t30 hit now low and CRB index hit new low so did BZZ.
It sounds no surprise at all. Several things I like to share with you are the following.
US dollar did not hit new hi as gold hit new low; in fact; US dollar index got a big hit Friday down -300 points September contract closed @ 99.70 below that 100. This is a very good sign for mining sector.
Silver price did not hit new low, this is also a good sign, too. If silver hit new low then I would feel much bearish cuz these two metals go hand in hand.
DML and CWA did not hit new low. In fact CWA closed uptick +001 @ .006
Watch that POG next few days; it could bottom out as USD showed no further strength at all and after Russia's current problems got over with it, Gold will have strong rally so is VSE index, PDG, ABX, GNN, BZZ, and of cuz DML, CWA, NAI, CYP, MGD ... etc, etc.... |
