Is a Major Dollar Sell-Off Around the Corner?
The United States is almost certainly going to try to inflate its way out of its fiscal timebomb.
In my last write-up, I shared some of my longer-term views on a few different markets. In discussing one of my favorite ideas, the ongoing bull markets in gold and silver, I noted that the corrective price action that I warned my readers about on April 14, 2024, may have been complete. I felt that if that were the case, then the overbought conditions from the fierce rally from $21.94 to $29.79 should have been balanced out by then, and accordingly, we should be getting ready for a move to new highs.
In fact, silver has staged a powerful rally since putting in its very recent low of $26, climbing nearly 6% in about ten days. If you look closely at the chart of silver below, you will notice that the entire rally of roughly seven dollars and eighty cents started in the middle of February and lasted about two months.