On the heels of the US Dollar Index closing above the major upside breakout level of 106, the gold market now “has all the hallmarks of a capitulation,” even though it may get worse before it gets better.
September 30 (King World News) – Alasdair Macleod: “Eric, this has got all the hallmarks of a capitulation. You mentioned the really poor sentiment in the mining sector. Gold peaked at $2,070 two and a half years ago and it’s been moving, broadly, since then. But you know, in a funny way, once sentiment returns this (radically) increases the upside for the sector. There are people who don’t understand that gold is money. They don’t understand what’s happening on the global scene. They don’t understand that they should just hang in there. They are leaving the space and that will leave a smaller universe…to continue listening to Alasdair Macleod discuss the financial crisis that is about to erupt and what this will mean for gold and silver CLICK HERE OR ON THE IMAGE BELOW.
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