I'm watching Gold equities and they seem to have struck some support . JNUG and HUI were both flat or slightly up on yesterday's US close. NCM, a nice bellwether, was only less than 1%. In Oz we have NCM, RMS and OGC all trading up off admittedly deep lows but it reminds me of Xmas 2016 when Gold equities led the way on a reversal into 2017.
Don't forget that this week much of Asia is closed and this was the same thing last year when Gold was heavily sold in thin volumes for maximum bearish pressure during Asian holidays.
The Trump Tax plan will unravel soonish but a major sell off of US bonds by the US Fed may be a major problem if bond yields go up. For all the hype of records for US indices the rally in the dollar has been pretty tame and stalled yesterday.
So my thinking is that Gold equities have reached such a bargain price that money is following back in, which may well suggest a reversal next week, perhaps off a low of either 1270 or maybe 1250 on the Friday close. Non Farm payrolls will be interesting late tomorrow US time
