Gold continues its correction as the Fed closes in on the ECB, plus the world economy is in trouble.
Fed Closes In On ECB
October 15 (King World News) – Holger Zschaepitz: “The Fed is catching up with the ECB in terms of total assets. Fed’s Balance Sheet has jumped to $3,950 billion in the past week, reduces the gap to the ECB to $1,235 billion. The largest gap was $1,517 billion in July. (See chart below).
Fed Closes In On ECB, Ramps Up Balance Sheet To $3.95 Billion
Gold Continues Its Correction/Consolidation
Ole Hansen, Head of Commodity Strategy at Saxo Bank: “Lower highs continue to point to a s/t risk of a lower low < $1459/oz. Currently drifting after strong earnings from US banks. (See below).
GOLD: Lower Lows Point To Short-Term Rick Of Move To Sub-$1,459
Ole Hansen, Head of Commodity Strategy at Saxo Bank: “Against this the IMF has further downgraded global growth (see below)…
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IMF (International Monetary Fund): “Just released: October 2019 World Economic Outlook WEO. Global growth for 2019 has been downgraded again to 3% and is projected to improve modestly to 3.4 in 2020, a downward revision of 0.2% from April projections. (See below).
IMF’s World Economic Outlook Downgraded
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10th Straight Month Of Plunging
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Tom McClellan Update On The Silver Market CLICK HERE TO READ
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