9:10p Tuesday, June 11, 2019
Dear Friend of GATA and Gold:
Gold futures are holding their 200-day moving average, Craig Hemke of the TF Metals Report writes today at Sprott Money, and he construes this as confirmation of an upward trend.
"Though prices will never be allowed to move uninterrupted straight up," Hemke writes, "they are definitely headed higher in the back half of 2019 as the Fed loses credibility by fighting against the deflation and economic contraction it created. Halfway through the year, the charts also seem to clearly indicate that this is the case. Therefore, the time is now to establish or add to physical precious metal positions."
Hemke's analysis is headlined "Chart Update for Gold and Silver" and it's posted at Sprott Money here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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