Why gold and silver up so much overnight?

[Sell 'em]

Gold has been consolidating for 18 months. Easily due for another big leg up.

 

[morganist]

Quote from Ivanovich:

Eventually, yes. But not right now. Of course, my wife will tell you how often I am wrong.

I'm not a top caller, I'm not a bottom caller. But when it comes to this whole gold/USD/equity craziness of late, my Spidey Sense is tingling like mad as of this morning. Something is about to happen, for good or for ill.

Most likely ill.

i have had a similar feeling. the only thing i can link it to that might have some ground was a post blsh made a few days ago something to do with the end of september.

 

[Trendytrader]

You first have to ask yourself is gold up relative to what?

US Dollar yes.

Any other currency no.

 

[morganist]

Quote from Trendytrader:

You first have to ask yourself is gold up relative to what?

US Dollar yes.

Any other currency no.

gold and silver have a seventy percent correlation to the value of the dollar in the opposite direction. it is important as they dollar is so important for trade and for oil.