Every year ahead of Christmas I traditionally ask your opinion about the possible Santa Claus Rally in the precious metals market. Last time it was on the 10th of December. In that post, I shared my worries about the possible Grinch effect of the emerging strength of the US dollar (DXY index), which could spoil the rally at the end of the year.
Most of you believed that the Santa Claus Rally would happen despite the possible threat from the dollar’s strength. And like many times before you were absolutely right as both metals gained at the end of the year – gold’s price surged $50, and silver’s price jumped more than $1. Tremendous gains, bravo!
At the start of the New Year, I would like to update the medium term gold chart for you. Continue reading "Gold Update: This Move Is Too Big To Ignore"