The US Dollar's Impact On Gold And Silver

Technical analyst Jack Chan charts a breakout of the US dollar and comments on its implications for gold and silver.

Our proprietary cycle indicator reached 100% and turned down last week.

USD broke out as anticipated in last week's update.

Gold stocks as represented by $HUI have not had a consolidation this year; consolidation is long overdue.

Summary
A bull market in gold and silver is now confirmed. However, the cycle has turned down, suggesting that a long overdue correction may have started. Recently, the USD broke out and up as expected, which is not friendly to the metals.

Caution is advised.

Top of Form

Bottom of Form

Disclosure:
1) Statements and opinions expressed are the opinions of Jack Chan and not of Streetwise Reports or its officers. Jack Chan is wholly responsible for the validity of the statements. Streetwise Reports was not involved in any aspect of the article preparation or editing so the author could speak independently about the sector. The author was not paid by Streetwise Reports LLC for this article. Streetwise Reports was not paid by the author to publish or syndicate this article.
2) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
3) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their families are prohibited from making purchases and/or sales of those securities in the open market or otherwise during the up-to-four-week interval from the time of the interview until after it publishes.

Courtesy of www.simplyprofits.org