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Gold & Silver Are About To Find Out If That Dog Is Friendly Or If It Bites

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from SilverDoctors:

SD Outlook: Gold & silver may be finally bottoming, but there’s a major reason we’re not out of the clear just yet…

First the good news.

The gold-to-silver ratio just keeps looking better:

Every single number on the latest daily chart is above 80, with a high above 82, and a last price of 82.52.

It’s hard to see how we are not close to the gold to silver ratio coming down. Regardless, to say the ratio is favoring silver right now is an extreme understatement. Compared to earlier in the year, you can now get over six ounces of silver for each ounce of gold, dollar for dollar.

Next, on to the wildcard:

We are coming up on the Chinese Lunar New Year.

This is the Year of the Dog.

The screenshot above is the Shanghai Stock Exchange, but it also applies to the Shanghai Gold Exchange and basically all markets in China. Beginning Wednesday night nad continuing through next Wednesday, markets in China will be closed.

Why does this matter?

The cartel may be able to strong arm the markets while China takes time away from business and focuses on celebrating the New Year.

The cartel absolutely loves smashing when China is closed. Think back to last October (Golden Week in China) and who painful Late September through Mid-December was.

China matters.

The last few years have seen gold & silver rally into the Chinese Lunar New Year, and as we will see, the technicals in gold & silver do not show us out in the clear just yet, so it remains to be seen, but we need to be on guard nonetheless.

As for events in the U.S. this week, we also get a bunch of data releases, especially beginning Wednesday and continuing through the week.

Data such as the Consumer Price Index (inflation statistics), Retail Sales, Industrial Production, the Producer Price Index (inflation statistics for manufacturers), Jobless Claims, and Housing starts will all give us a glimpse of how the economy is doing in a wide angle look across major sectors. Granted, the numbers have been massaged for so long that they near the point of meaningless, but those releases do move markets, and what we will be looking for are clues to how they (govt & Fed) are trying to paint the picture of the economy. There’s also those occasions when the markets don’t “like” a specific report, and with last week’s action in the stock market, and with the resurgence of volatility, there is not a lot of room for error on the part of the liars statisticians.

Read More @ SilverDoctors


Source: https://www.sgtreport.com/articles/2018/2/12/gold-silver-are-about-to-find-out-if-that-dog-is-friendly-or-if-it-bites


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