The new cry for metals is “Help!I have fallen and can’t get up.” Across the board, metals are taking a beatingand need the alert button as they call for help. Gold, copper and silver areall at the bottom end of trading ranges and could be in danger of breaking downhere as we wait for Wednesday’s Fed decision.
Interestingly enough, thesuppression of the dollar by the Fed and central banks around the world havenot helped the metals, indicating there may be more problems than we can see onthe surface. A weak dollar should be bullish for the metals, but both are onnear-term lows.
Wednesday’s Fed decision shouldgo a long way in deciding what’s next for the metals. In its history, the Fedhas never made the correct decision when policymakers are trying to exit themess they made. This time won’t be different, and you can bet on a mess.History continues to repeat itself and the Fed continues to be clueless
By Todd 'Bubba' HorwitzContributing tokitco.com
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