‘It ain’t over ‘til it’s over’ is a Yogi Berraism that has to apply in spades to perhaps the most contentious and one of the most tightly fought U.S. Presidential elections in history.
Each time the gold price falls below $1,900 it seems to bounce back up again to regain that level.
For a small European nation with zero domestic gold production, Switzerland provides an unlikely, but hugely significant.
Monday saw an almost unprecedented meltdown in precious metals and equities together with both gold and the Dow coming back over 3% at one time, silver over 8% and even oil and bitcoin both falling sharply.
With the first week’s trading after the Labor Day holiday now behind us we can begin to get some idea as to whether the end of the U.S. summer holiday has proved to be an inflection point for Precious Metals.
There’s a battle going on between precious metals bulls and bears and who will come out on top still remains uncertain, although our analysis would favor the bulls.
The middle week in August was an extremely mixed one for the fortunes of precious metals prices.
Crash, Collapse, Correction or Consolidation? Perhaps we should add Crisis? to our list of Cs.
Gold soared up past its previous $1,922 spot price high on Monday morning hardly pausing for breath.
We look to be faced with a greater global threat than the Great Depression which afflicted the world in the 1930s.