Tuesday, February 7, 2023

Dow Theory Update for February 7: Are precious metals nearing a secondary reaction?

 A correction for gold and silver in the making?

1. The USD is slowly turning bullish against the EUR.
2. U.S. bonds are again turning down (higher interest rates).
3. A couple of weeks ago, I alerted there was a glaring divergence between silver and gold price action, which suggested, at least, some pausing:


We got the drop I foresaw, which will likely morph into a correction. We will know very soon. 


Manuel Blay

Editor of thedowtheory.com



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