Here is a surprising look at the Russian ruble and gold, trouble in China, plus even more inflation and silver’s fall.
May 2 (King World News) – Graddhy out of Sweden: Fibonacci retracement levels usually work quite well for precious metals declines. Silver has, at present, a bullish reversal candle right at fib 78.6% retracement level.
Silver Has Now Seen A 78.6% Retracement
Billionaire Eric Sprott is a big investor in this remarkable silver company click here or on the image below
Meanwhile In China
Otavio Costa: Meanwhile in China…Worst decline in personal mortgages in the history of the data.
Personal Mortgages Collapse In China
QQQ Top In Place
Mark Minervini: While some are arguing a bottom is forming in FANG and the QQQ, I have the opposite outlook. Yes, we are at oversold levels and that will – at some point – fuel convincing snap back rallies. However, my analysis suggests a long term top and years of subsequent underperformance.
Top Already In For The NASDAQ
Bear Out Of Hibernation
Jason Goepfert at SentimenTrader: A “key reversal day” in the Nasdaq 100 hasn’t been something to cheer. They’ve only triggered during bear markets.
This Always Happens During Bear Markets
More “Transitory” Inflation
The Daily Shot: Cotton futures are soaring. Gains are driven by demand from China at a time when the US cotton crop suffers from drought.
More “Transitory” Inflation
As Cotton Futures Continue To Soar
The Daily Shot: The employment cost index came in well above forecasts, spooking the markets. The concern has been a wage-price spiral.
Wage Price Spiral Means More Inflation
Russian Ruble & Gold
King World News note: The Russian ruble has had a spectacular rally in the aftermath of Western sanctions, now trading with far more strength than before the sanctions were put in place. The bottom line is “the Russian ruble has a fairly high gold backing” (see below).
Russian Ruble Has Significant Gold Backing
Compared To US And Europe
ALSO RELEASED: What We Are Seeing Is Unparalleled In History But Here Is The Good News CLICK HERE.
ALSO RELEASED: Greyerz – Global Chaos Will Increase As The World Is Now Standing On The Edge Of A Precipice CLICK HERE.
Egon von Greyerz’s Partner Matthew Piepenburg gave an absolutely incredible interview about the coming chaos investors should expect to see in terms of inflation and major markets as well as gold, silver, and what people will need to do in order to protect themselves from the coming upheaval in global markets. I would encourage everyone around the world to listen to this remarkable interview by CLICKING HERE OR ON THE IMAGE BELOW.
To listen to Alasdair Macleod discuss Russia backing the ruble with gold and why the price of gold’s rise will be unstoppable CLICK HERE OR ON THE IMAGE BELOW.
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