Silver Big breakout this week, page-71

the death cross is when the 50 day MA goes below the 200 day MA - not the 100MA

the pull back in the gold price was because the market expected a $US1-3t covid-phase 2 package in July/Aug that never eventuated - and then the market had to adjust for the expected improvement in US debt/gdp ratio as the expected 3rd qtr bounce occurred as the effects of the $US7+t COVD-1 package washed through their system.

US total national public debt to gdp ratio went from 143% to 128% as a result of that improvement in the Q3 GDP - but that build in the assumption it runs at that rate for the next 4 quarters.

its purely about market trimming and tacking between forward expectations and then what actually occurs

nothings changing the broad trend of higher US debt and higher US debt/gdp ratio

technically this is an excellent time to be getting long gold/silver again - forward expectation exuberance removed from pricing - now the market needs to start pricing back in both trend rate deterioration in US debt position + any additional spending they undertake to try to reduce the impact of COVID etc

its also increasingly clear that global reflation is occurring - just look at base metal prices zooming

that means USD is going lower and PM's going higher