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.

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.

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.