Gold stock sentiment indicator.
Only a few more days to go for the price to be bashed down.
This is so predictable even blind Freddy can see how this is happening.
I wonder what the April contact will produce? I suspect a good deal of EFP.
They cannot let POG drift too high else they will have too work all the harder.
The only issue I have with BASEL lll is it will leave the worse (by reputation and evidence) players in the market - HSBC, JPM and BIS. Very few others have physical to lay on the line to back their positions. BIS I will leave the door open on how they behave.
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As markets begin to notice underwhelming performance in several metrics, USD will be the most likely beneficiary while gold sentiment remains so low.
This is when you need to be a contrarian. Required balls of steel and well positioned stop losses.
There are some ideally set up charts for prime junior stocks.
The indicator continues to decline. Here it is.
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