Melman on Gold & Silver
June 2016 by Leonard MelmanAnother area of growing international concern for business and industry is the recent astonishing proliferation of new government regulations and laws. Despite the presumably good intentions behind these measures it is now becoming apparent that they are imposing true costs to our economic society. The sheer variety of these laws and regulations is mind-boggling.
The great question now is whether the correction that followed was an end to that bull market—or just a lengthy corrective phase prior to another important bullish move. Let’s turn to technical analysis of the chart for a possible answer.
…At present we may be entering a period of relative stability on many economic fronts and, therefore, our focus is now trending more toward social upheaval and the resultant increase in tensions as the prime movers for the precious metals.
While gold’s chart has recently confirmed its short-term negative trend, the intermediate trend remains neutral while gold’s long-term chart is beginning to show some positive indications.
When we look ahead into 2011, we see continuing troubles such as those listed earlier, which will force the public to question the effectiveness of the entire concept of economic strength and vitality through government interventions. In fact, many of those interventions have been abject failures, and we wonder if or when the public will lose confidence in the entire system.
Despite a variety of other side subjects, the dominant source of financial headlines during the past month continues to be Europe, and we note two particular foci...
From the point of view of the precious metals, an upside breakout would have clear inflationary implications, which should benefit...
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