Not a happy time for gold and silver bugs, sadly. Here's some mood music to set the tone . . .
And what will surely upset gold and silver bugs even more is that my long absence from regular posting must needs continue for a while longer, but I see we still get a large number of loyal visitors daily, a few of them not bots, so with September in the books, I felt it incumbent upon me at very least to update some of my regular charts. Once again, the reversals on the two weekly three-line break charts below (with the first, as usual, being the leading indicator) have signaled the recent bear cycles in gold and silver.
My 2014 prediction that the GOLD/S&P500 ratio would hit the yellow line has come to fruition.
My conviction that we won't see the low in gold until the "treasuries in silver" chart hits the green flanging wedge is also looking likely now, a year and a half later, with, unfortunately, still a ways to go:
Posted by GM Jenkins on Friday, October 03, 2014