Precious metals expert Michael Ballanger discusses how investors should interpret the recent shifts in gold and silver “market techtonics.”
by Michael J. Ballanger
The Gold Report
As we move rapidly through the spring of 2016 and with summer less than a month away, I thought it would be a good time to revisit the main markets that dwell on my financial radar screen (gold, silver, gold and silver equities, and the S&P 500) because there has been a fairly sizable shift in market tectonics, particularly in gold and perhaps more ominously in silver over the past month.
Call it deterioration in momentum or correction; the NYSE.Arca Gold BUGS Index (HUI) is off 10% from its top at 236.23. I am almost afraid to mention the term Commitment of Traders or the word Commercials because everyone from Dennis Gartman to “kitchen chair financial planners” have now become “COT experts,” pointing fingers and resurrecting archived blog posts from the last 10 years to prove their exclusive ownership of “COT analysis.”