$GDX $GDXJ looking weak ($GOLD)
I can see many people are still defending on the gold drop recently and hopeful that it will go towards ATH again.
Think again, what's the value of gold based on ? Sentiments !!! and also they think it hedges against inflation. Well, inflation is truly here but it's not a problem. Central banks are printing money to provide liquidity and this aint going to be a problem.
They dont use gold much for industrial use.
Looking at GDC and GDXJ both are looking weak and all on downtrend.
The charts tell you all the stories.. past, present and future.
Think again, what's the value of gold based on ? Sentiments !!! and also they think it hedges against inflation. Well, inflation is truly here but it's not a problem. Central banks are printing money to provide liquidity and this aint going to be a problem.
They dont use gold much for industrial use.
Looking at GDC and GDXJ both are looking weak and all on downtrend.
The charts tell you all the stories.. past, present and future.
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