Fortunately for gold and silver, bearish influences from the dollar and treasuries abated at the end of last week. Still, unfortunately, adverse trend action in those markets has returned and is likely to keep gold and silver under liquidation watch.
In fact, this morning global markets were rife with concerns that interest rates were set to remain high for longer firming the dollar and undermining most physical commodities.
Therefore, further gold price retrenchment from treasury and dollar market action likely push December gold down to the September lows of $1,921 and potentially press silver back to first support of $23.36 in the December contract...[MORE]
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