Some analysts were expecting gold to form an early Daily Cycle Low. I’ve been warning that gold needs to break the cycle trend line before the DCL can bottom and to beware of a fake out. It turns out I was correct to be patient. I doubt gold will form the DCL until right before, or on the FOMC statement next week. More patience.

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Gary Savage
The Smart Money Tracker

Gary Savage authors the Smart Money Tracker and daily financial newsletter tracking the stock & commodity markets with special emphasis on the precious metals market.

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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