Melman on Gold & Silver
October 2016 by Leonard Melman
Given the astonishing increase in government expenditures of the past two years, one must ask if there is another parade of taxes and levies waiting in the wings, and, directly related to our precious metals, if there is some form of tax rebellion also waiting in the wings.
Perhaps the most important phase of our chart analysis work is to find indicators that have proven reliable in the past in terms of providing indications of future market direction. One of our favorites is the “Bank Index,” better known by its trading symbol, BKX.
During the past month, two of our favorite sources of fundamental information for the precious metals markets have issued their summary reports looking ahead to the coming year.
As we have noted through the years, perhaps the most direct, single influence on the future of gold and silver is their monetary opposite—currencies in general, the US Dollar in particular.
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