Nothing has changed over the past week. The Fed remains dovish, and in spite of its transitory speak about inflation, prices continue to soar. Biden calls for even more stimulus, but it’s doubtful all of it will make it through the Senate. Meanwhile, the parameters for Gold and silver remain the same. Resistance is at 1800 and support is at 1740-50. 25,60 silver Yields are rising again Real yields are flat to lower recently, supporting Gold’s move off its lows. While Powell says rising inflation is temporary, all evidence is to the contrary. While yields cannot be allowed to get out of hand and risk the collapse of everything, inflation will continue to rise as the printing presses remain plugged in and supply chains break down. This is the foundation for the coming surge in precious metals. I don’t see the 30-Year T-Bond going beyond the 2.75-3.00% resistance zone.
I wish I had more to say , but who wants to hear a running post on how paint dries. We have our levels to watch, and given the long slow grind lower following the slingshot to 2100 in Goldand 40 silver , I’m sure that when they break we’re going to get some rapid moves to the upside, imho.
Submitted April 30, 2021 at 10:09PM by Least_Ad404 https://ift.tt/3xE2N71
