Gold, the stuff, and Silver update

Here are the then, December 24, 2015, and now charts as usual;

gold dec 23 2015gold  mar 16 2016

This is the same “diagonal” that ABX displayed. They are very reliable patterns and almost always result in a violent reversal back to the starting point. We view golds trajectory as an initial 5-waves down, then an intermission, where we are now, and then another 5-waves down to complete a big A-B-C correction to, perhaps $250 or so. That may or may not be correct, but for the moment it does not matter as this diagonal should be retraced and we are only halfway. Another $75 down would probable do it. In any event you do not want to miss the opportunity as it is almost guaranteed. Maybe Yellen will surprise us all and put her foot down with another increase.

Silver, by the way, may be doing the same thing;

silver mar 16 2016