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Reuters/Saqib Iqbal Ahmed
“A resurgent coronavirus pandemic in the United States and the prospect of improving growth abroad are souring some investors on the dollar, threatening a years-long rally in the currency. … A decline in the dollar earlier this week set off a technical formation known as a ‘Death Cross,’ which occurs when the 50-day moving average crosses below the 200-day moving average, according to analysts at BofA Global Research.”
USAGOLD note: A heads-up is in order as death crosses are something that garner considerable attention in trading circles. “The death cross indicator,” says Investopedia (with reference to the stock market), “has proven to be a reliable predictor of some of the most severe bear markets of the past century: 1929, 1938, 1974, and 2008. Investors who got out of the stock market at the start of these bear markets avoided large losses that were as high as 90% in the 1930s.” Could be good for gold and silver.
Repost from 7-8-2020