Golden bottom?



dollar retest




currency cycle expectations


head and shoulder patterns corrected


multiyear currency cycles


US dollar commodities cycles



gold hammers


technical breakdowns






miners weekly recognition candle


euro intermediate trend line


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11 thoughts on “Golden bottom?

  1. Steve

    Any thoughts on the likelihood of Europe QE over the coming months? If it goes ahead then surely that trigger a huge spike in USD, and a corresponding capitulation phase for gold.

  2. gary Post author

    It may have the opposite effect just like it did here in the US. QE rescued the economy and that caused the dollar to strengthen.

    If Europe prints and it reverses the economic decline then the euro may rise instead of fall.

    Keep in mind these are just temporary fixes and ultimately all this printing is going to cause massive inflation in all currencies.

    1. Steve

      Recent dovish sentiment by Draghi has cause USD to rally. BOJ QE had the same effect but stronger (given it was real action not just jawboning). I think at least in the short term any Euro QE would be very bullish for USD. Ultimately I think the Fed would need to step in to bring USD down, but by then the damage will be done for gold. Euro QE will be the time to back up the gold truck.

    1. gary Post author

      I’m not sure what the tan colored areas are supposed to represent considering they don’t even follow the chart action.

      I think it boils down to the euro. If it puts in a 2 year cycle low here soon then it should rally for months or even a year or more and the dollar should do the opposite.

    1. CountOfMeltedCrisco

      Could happen, and the Swiss vote November 30 may be the catalyst that launches it. As hard as TPTB are trying to prevent a “Yes” vote and as hard as they’ll try to ignore it should a “Yes” vote prevail, it will nonetheless act as a “wake-up” call for the rest of the world. In fact, should Swiss vote “Yes” that would give China the cover it needs to play “hey, us too” and announce some amount of gold-backing for the Yuan. Then things would REALLY get interesting.

  3. Hampton Burt

    Fundamentals only account for about 20% of an item’s price movement. The rest is sentiment. What charts show is action. And action is what matters. Therefore, I thank you for your insights. Haven’t seen them anywhere else.

  4. Steve


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