QUESTION: Marty; Great call on the gold again. The June low was spot on. At the Conference you warned we could still make another pass at the lows in dollars in 2015 but this would be a delicate ballet between the varied trends in currencies. Do you still see this as a possibility?
ANSWER: Yes. June was the perfect target both seasonally as well as being 34 months from the highest monthly closing.In spot. We still have the seasonal June low in 2013 whereas in nearest futures the low is remains December 2013. So we do not have a low UNDER 2013 as of yet and until we get a monthly closing ABOVE 1550, we must respect that new lows in dollars are still possible especially if we get a real surge in the dollar until the markets regroup.
The report on the metals group is being edited now. We will include some stocks as well.