Goodbye, Gold: Here’s Why the Rally is Over
Gold futures are quietly sinking below $1,170 this morning.
The Midas Metal is breaking down. Now it runs the risk of coughing up every ounce of its comeback rally.
The damage has been swift and brutal. Gold is now 14% off its summer peak. We watched precious metals and miners vault to two-year highs just a few months ago as the Fed backed off a summer rate hike and world markets shook in fear of the Brexit vote.
But gold’s trajectory changed dramatically during the third quarter. While the major averages chopped along, gold couldn’t attract any attention. By the time the dust settled, gold had dropped toward 4-month lows.
Now gold finds itself on the brink once again…
This post was published at Examiner on December 1, 2016.