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Commentary:
In TDG #527, a 28-page update sent late Saturday night, we focused more attention on the US$ and the potential for a rebound. If you price Gold and gold stocks against foreign currencies they remain weak. The recent rebound and most of the rebound this year has been US$ weakness rather than "real" strength in Gold. The CAD$ has been very strong recently and so Canadians probably feel worse than Americans about their gold stocks right now.
The positive for Gold is the CoT which gives Gold a chance to hold up over at least the next few weeks. It tells us Gold and gold stocks probably won't come under pressure immediately, even though they are very close to strong resistance.
However, the problem is the US$ is nearing strong technical support amid bearish sentiment. And US$ weakness has been the major driver (and perhaps the only driver) of Gold and gold stocks recently. What happens if the US$ rebounds and sustains it?
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Disclaimer: This newsletter is intended for informational and educational purposes only and should not be considered
personalized and individualized investment advice. Investment in the precious metals sector contains significant risks. You should consult with an investment advisor and do your own due diligence before making any investment decisions. This email may contain certain forward looking statements which are subject to risks, uncertainties and a multitude of factors that can cause results and outcomes to differ materially from those discussed herein.
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