The US Dollar's Impact On Gold And Silver

Technical analyst Jack Chan charts a breakout of the U.S. dollar and comments on its implications for gold and silver.

ChanGold7-23_cover

Our proprietary cycle indicator reached 100% and turned down last week.

ChanGold7-23_1

USD broke out as anticipated in last week's update.

chanGold7-23_2

Gold stocks as represented by $HUI have not had a consolidation this year; consolidation is long overdue.

Summary
A bull market in gold and silver is now confirmed, but the cycle has turned down, suggesting that a long overdue correction may have started. USD broke out and up as expected, which is not friendly to the metals.

Caution is advised.

STOCKS IN THIS ARTICLE

Comments