“What does Dr Copper want to tell us?The metal with the PhD in economics is now in a bear market, down 21% from recent high in June.Dr. Copper is signaling us that global contraction is now in motion”.
Dr. Harald Malmgren
Gold and silver both bounced higher today as the dollar trended lower.
Gold has been trading in the currency crosses, as a currency.
And those who trade in those markets know that they are notorious for overshooting on moves.
The reasons for this have to do with the heavy leveraged used, and the few major players that tend to dominate, and who love to throw their weight around at the expense of the smaller speculators.
It is hard to realize that gold is up almost $25 from the overnight low of $1159 it put in the other day. And silver is up about $.80.
Stocks managed to move a little higher in a relatively quiet stock option expiration.
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