Excerpt from this week's: Technical Scoop: Spreading Unrest, Oil Highs, Oversold Metals
Gold and silver
Source: www.stockcharts.com
Misery, thy name is gold, silver, and the gold stocks. One would think that with everything going on – the geopolitical tensions, the domestic political tensions, and more – gold would be rising, not tumbling. But tumbling it is. Surging oil prices and rising inflation are hurting gold. The rush to U.S. dollars rather than gold is hurting gold…