On Monday, I published an article (click here) and additional Facebook posts (click here) explaining that we were inside a 24 hour window where precious metals were likely setting a bottom. Upside momentum has faded and bullion manipulators are going to try to pressure prices downward. So far, the bottom has held but Thursday and Friday are key and Fed Chair Yellen is speaking before Congress on Thursday. December will see a 25 basis point Fed Funds rate hike, and this is already priced into the precious metals market but that doesn’t mean the market will not be attacked on Thursday! If we get an attack timed in association with Yellen’s Congressional testimony, it should be short-lived.
Jason and I recorded WTD #29 last Monday, after the New York market close. – Eric Dubin