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Chart of the Day - Dollar, Gold and Silver


 -- Published: Friday, 10 June 2016 | Print  | Disqus 

By: Gary Savage

The dollar intermediate cycle is not expected to bottom until September or October. A reasonable target for gold at that time would be between 1450 and 1550. Silver has completed a full 50% retracement of its intermediate cycle and, along with gold, is now beginning a new intermediate cycle.

Chart of the Day Dollar, Gold and Silver
Dollar, Gold and Silver

$USD If the dollar gives us a normal duration intermediate cycle, it will not be due to bottom until September or October.

$GOLD Assuming gold continues to decouple as the dollar completes its final intermediate rally, we could see gold trend generally higher until fall. I would think a reasonable target by then to be be between 1450 and 1550.

$SILVER The pullback in gold was a bit shallow at only 38%. But silver retraced 50% and that is a completely normal intermediate cycle decline.

 - Gary Savage

http://blog.smartmoneytrackerpremium.com/


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 -- Published: Friday, 10 June 2016 | E-Mail  | Print  | Source: GoldSeek.com

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