Post #15766

Gold Up or Down? Perhaps Neither. Gold and silver are bouncing hard after a brutal washout. Price went parabolic, then got flushed — now we’re seeing a relief bounce. But it’s too early to call it a full recovery. Gold and silver haven’t reached key retracement zones yet, which could offer bears another chance to press for a second leg lower. Warsh’s nomination sparked the initial dump — less dovish Fed expectations + USD rebound pulled safe-haven demand out of metals. That dollar pop is stalling now, giving metals room to breathe. Bigger picture hasn’t changed much: macro uncertainty + allocation demand still intact, and banks are still floating upside targets (some even talking $6k gold). This looks more like a violent positioning reset than a structural trend break. If anything, it’s reasonable to expect price to stall and consolidate until the next “pain trade” emerges that safe-havens can feed off. - Alan