• 12 hours Coronavirus Could Cost Tourism Industry $80 Billion
  • 16 hours What Web Traffic Trends Can Tell Us About The World
  • 20 hours Miners Face Greater Headwinds
  • 2 days Boris Johnson Proposes Billion Dollar Bridge To Northern Ireland
  • 3 days Goldman Slashes Oil Price Forecast By $10
  • 4 days Tesla Raises $2 Billion In Share Selloff
  • 5 days What The T-Mobile Takeover Of Sprint Really Means For Markets
  • 5 days The U.S. Has Charged Huawei With Racketeering And Conspiracy
  • 5 days How Hydrogen Could Become The Fuel Of The Future
  • 6 days Millennials Can’t Retire, But They’ll Still Have To Help Their Parents
  • 6 days This Gold Miner Just Increased Its Dividends By 40%
  • 6 days Airbnb IPO Under Threat As China's Economy Drags
  • 7 days The Infamous Equifax Hack Just Became A National Security Issue
  • 7 days BHP Takes The Crown As World’s Top Copper Miner
  • 7 days Tesla Reopens Chinese Factory After Coronavirus Scare
  • 8 days Armed Troops Storm El Salvador’s Parliament
  • 8 days Is A New Housing Bubble Forming?
  • 8 days The Biggest Challenge Facing West Africa's Single Currency Plan
  • 8 days Iran's Space Program Hits Another Snag
  • 9 days The Politics Of Love In The Digital World
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  1. Home
  2. Markets
  3. Other

Gold - No Bottom Yet

I'll begin this week's commentary with a follow up on last week's Hybrid Lindsay forecast for a high in equities. Last week's commentary gave the details of the forecast for a high in the Dow on September 11 or very early last week. Equities pushed that forecast to the limit with last week's closing high on Wednesday followed by a decline of over 350 points. Short bounces notwithstanding, it seems reasonable to assume Wednesday was the high I was looking for.

Gold gained $34.60/oz. last week to close at $1,138.10 just below the 89-dma. Cycles point to a high late this week followed by a pullback into the first week of October but an important high is also due in October.

Gold moves inversely to the Dollar and I still expect one more rally to a new high by DXY. A triangle forecasts a decline in gold to $1,000 and a 4yr cycle low is not due until the first half of 2016 keeping the long-term outlook bearish.

Inflation expectations (chart) are not supportive of higher gold prices.

5-Year Treasury Constant Maturity Rate

 


Get your copy of the September Lindsay Report at Seattle Technical Advisors.com.

 

Back to homepage

Leave a comment

Leave a comment