We are approaching panic in the gold and silver markets, but look at this…

Gold
November 24 (King World News) – Top Citi analyst Tom Fitzpatrick:  Gold closed decisively below a significant support range at $1849-$1850 which consists of a base of a triangle and horizontal support from the low on November 9th. There is another pivotal support range at $1791-$1803, which looks in danger of being tested, comprising of horizontal levels off of November 2011, February 2012 and October 2012 highs and 200 day MA.

US Dollar Negative
Peter Boockvar:  After a Fed career of encouraging government, businesses, and households to borrow, borrow, borrow via easy money/QE, Janet Yellen now gets to eat her own cooking. I see this as nothing but US dollar negative…

Billionaire Eric Sprott Buying
To find out which company billionaire Eric Sprott just bought a 12% stake in click here.

CRB
With further dollar weakness and now a vaccine, I see no reason why the CRB commodity index can’t get back to the 180+ area, especially now that oil prices are beginning to participate. (See chart below).

INFLATION WARNING: CRB Headed Above 180

Rent And Mortgage Woes
The Daily Shot:  A spike in US evictions and foreclosures is coming. (See chart below).

Look At What’s Driving The Housing Boom
Gregory Daco:  A housing boom driven by those with stable incomes, largely unaffected by the COVID19, solid finances and good credit scores (see chart below).

Nothing For Sale?
The Daily Shot:  The inventory of US homes for sale, measured in months of supply, is the lowest on record. (See chart below).

Supply Of Homes For Sale Hits All-Time Record Low

APPROACHING PANIC: Gold’s Bottom
King World News note:  In all likelihood the bullion banks will take the price of gold below the 200-day moving average, currently $1,798, in order to trigger sell stops and additional technical selling. Meaning it may get worse before it gets better, but this is exactly how bottoms are made.

This is an incredibly important audio interview with Alasdair Macleod discussing the plunge in gold and silver and everyone around the world should listen to it immediately by CLICKING HERE OR ON THE IIMAGE BELOW.

© 2020 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the articles is permitted and encouraged.

Facebook

Twitter

Linkedin

email

Print