In 2016 and 2017, gold opened the year at its lowest level and never looked back. Since December 2015 the yellow metal has been making higher lows, but as we enter the second half of 2018 that pattern appears to be in jeopardy. The price action since April has been bearish as the price of gold turned lower. In late April and early May, the precious metal fell to new lows for this year, and the price has kept on going on the downside threatening to make the summer of 2018 a season of discontent for precious metals bulls.
Summary Gold comes into Q3 with a lower low and the threat of a technical breakdown. Silver moved below $16. Platinum falls below the 2016 lows. A strong dollar weighs on the shiny metals. A bumpy road to the downside? This idea was discussed in more depth with members […]