Melman on Gold & Silver
June 2020 by Leonard Melman
When governments are hit by a barrage of such economic news, they usually react by attempting to stimulate economic activity by spending money, as some might say, “like drunken sailors”…
There seem to be two possibilities for the future of this disease and either way there will be an effect on the price of gold.
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.
The ultimate resolution of this apparent contradiction between fundamental news and market performance could provide us with important future clues for gold and silver.
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