I see a lot of signs and talking points pointing in the direction of a 6-8 week rest/correction in the PMs. Of course that could indicate that that will not happen. Still, if it plays out this way, as many are arguing, this brings us roughly to election day in the US. Lots of potential political fireworks on top of the technicals and fundamentals in the PM sector. I think it is possible that this is setting up to be enough a correction/pause/shake out so that the weak, non believer trend followers will leave the sector. That will leave the smart money and us tin foil hats left to be strapped in for the blast off that we all know is coming... 2c
I don't know where the metals will bottom or if they haven't already. Nobody does and if they tell you that they are lying. Might be the case though that we have seen or are very close to the bottom in the major mining stocks. They didn't really do all that much on the upside on that last little blow off to the highs so there might not be all that much of a correction
Seems like the consensus is $1800 Gold Silver $22 downside or thereabouts. I think we either have bottomed or are going to test $1670 Gold but the consensus is rarely correct.
JUST SCRATCHING SOME THOUGHTS DOWN
I find it a tough sell that GOLD is worth less in any FIAT going forward on a month over month basis
this gives me a Trend obedient GOLD price in CDN year end touches 3,000 CDN FIAT DOLLARS
approximately 2,300 USD.. MIN