Prices are sort of idling today as the gains of yesterday are digested and preparations are made for a volatile Wednesday ahead of the latest CPI report.
Comex gold is higher as I type but Comex silver is down and taking the GDX along with it. This is not surprising, however, and we predicted as much in yesterday’s podcast. After finally breaking above its 50-day moving average for the first time since April 20, the most likely next step was/is a pullback to test that level for support. That’s exactly what is happening today. And now, what follows tomorrow…
