Melman on Gold & Silver
March 2018 by Leonard Melman
These moves were the first serious interruption to the bull market, which had not encountered a serious decline since the election of November, 2016. Since general market moves have been one of the most reliable historic indicators of precious metals market moves, we take a close look at these developments.
In our opinion, these dizzying up and down moves reflect not so much a change in the direction of hard data, but rather fluctuations in sentiment regarding the degree of danger relating to the overall international economic structure.
Putting it all together, we have indications that the petroleum price increases could continue and we believe that if that is the case, the impact on precious metals would be positive.
After six years of primarily sideways action, gold broke decisively to the upside by breaking above strong resistance between $1,350 and $1,400 by soaring to near $1,450 before correcting moderately.
...this debacle may easily lead to disenchantment with government programs in general and politicians of all stripes in particular. Historically, that kind of unrest has been positive for precious metals markets.
Talk about “déjà vu!” Americans woke up early morning Tuesday, November 6 with a Democratic President; a Senate with a narrow Democratic lead and a House with a strong Republican majority. They went to bed late Tuesday night with a Democratic President; a Senate with a narrow Democratic lead and a House with a strong Republican majority.
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