Gold and Silver still working higher

Using Gann Angles from zero we can time the next run-up, and it is near.

The last two days gold and silver are down on the back of central bankers talking the US Dollar higher in an attempt to offset inflation. A rising dollar is a form of tightening. Also, the talk of a faster 'taper' has sent interest rates higher. But Luke Gromen knows this cannot last.

@LukeGromen Externally-financed twin deficit nations with insufficient external financing (ie the US, not Japan) cannot abide rising real rates for long.

RTT Comments: What this means a higher US Dollar makes it harder for those outside the US to buy the vast quantity of US Treasuries.

US dollar-based debt has jumped from $200T to $330T in one short year. Higher US interest rates will hurt those who have to pay on these loans. The US Government interest expense is skyrocketing, the interest expense is equal to the US Defense budget.

If the trend continues stuff will begin to break. Jay Powell has just been re-appointed as Fed Chairman and you can bet a deal was done with the DEM's the Fed must not let the markets blow up before US Mid terms late 2022. Interest rates can not go too much higher, the Fed's fat finger is near. More money printing is near.

Gold with Gann Angles from Zero

(Click on image to enlarge)