The price is doing what that backdrop demands. Gold has given back Friday’s bounce, silver is leading the way down, and the whole sector is rolling over together. Friday’s move up, when physical buyers stepped into the selloff and the mining stocks, and FCX reached the levels I had flagged, was the corrective pause I described it as. Today, the trend reasserts.
Please note that gold futures are holding at their rising support line based on July lows. Once this level is taken out, the decline is likely to accelerate. And then even more so once gold breaks to new 2026 lows, which could happen as early as this week (no promises, though).
Source: Original Article
