“Francly Speaking” This Indicator Suggests Gold Is To Head Lower

In 2011, I was pretty frank when I shared the following…“The Swiss Franc is suggesting Gold will be flat to down for years to come!” See post HERE

Since that post, Gold has lost a third of its value and Silver around two-thirds.

“Francly Speaking” the message for Gold, coming from the Franc is…Lower prices are still to come. The chart below shares how the Franc and Gold both peaked at the same time back in 2011 and what the current message is coming from the Franc of late.

Click on picture to enlarge

The above chart reflects that the Franc and Gold both broke below 10-year support lines and both kissed the underside of resistance at the same time at (1). As you can see this dual resistance stopped both of them on a dime and now both of them are breaking below prior monthly closing lows.

Metals members sold GDX as this resistance was being hit in late January.