The technical path of least resistance is down in gold with a series of lower highs and lower lows presenting bearish charts.
We also see the fundamental bias pointing down in gold and silver as a muted US CPI reading fosters a thin measure of long liquidation from long-suffering gold inflation bulls.
However, the bull camp hopes that muted inflation will spark talk of the end of the rate hike cycle and potentially provide a measure of misguided buying off talk of rate "cuts" next year...[MORE]
Please subscribe to receive the full report via email by clicking here.
