ZeroHedge seems to be taking credit for the intraday move in GLD, which SLV followed, apparently tweeting there were rumors of a margin hike.
I'm not sure what this signal was about as it was before they tweeted it, maybe it was because of rumors of a PM or Gold COMEX margin hike before they tweeted it. In any case, it was a very strong divergence and well before the tweet and the drop in both precious metals.
This chart of SLV was leading negative before the tweet came out.
FXA (The Australian Dollar) is still not supportive of either move in SLV or GLD
FXA in red vs GLD
FXA vs SLV
Whereas in the past, FXA has been an excellent leading indicator for the PMs
FXA vs GLD-Note FXA has topped and bottomed long before GLD
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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