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What is Wrong With Gold?

Home News What is Wrong With Gold?

What is Wrong With Gold?

Six months ago, it looked like the metals had put in solid bottoms. They looked so good that we were willing to call the end of the bear market in metals. Both gold and silver rallied hard, with gold moving up 12% and silver 20% in six weeks. The metals looked great, the picture was rosy, and nothing could stop the next bull market in the metals until Bitcoin started to explode.

The explosion in Bitcoin this year, coupled with the strength in equities and the approval of new futures products on the cryptocurrency, has taken its toll on the metals. Even with the U.S. dollar making new low after new low, the metals could not catch a bid. That was a warning sign. But new money seems to love the crypto space and metals are now threatening to break down.

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