This is the reason gold is surging $20 today along with silver.
Catalyst For Gold & Silver Surge
November 1 (King World News) – From top Citi analyst Tom Fitzpatrick: There is a potentially bullish Chinese yuan scenario setting up on the US Dollar/Chinese Yuan chart … looks set to post a bearish outside day at the high of the move off a level very similar to the peak posted in January 2017. More importantly a close tomorrow below 6.9299 would be a bearish outside week off the high of the trend. That is also exactly how the US dollar and Chinese yuan turned in January 2017 (see chart below).
Chinese Yuan Set To Rally Strongly vs US Dollar
Fitzpatrick also sent KWN the all-important chart showing the US dollar is in danger of a top. Note the bearish divergences on the chart below as the dollar hit consecutive highs.
US Dollar In Danger Of Tumbling Aggressively From A Major Top
The Reason Gold & Silver Should Continue To Surge
King World News note: The reversal in the US dollar is the reason the price of gold has surged $20 today and is now within striking distance of its recent highs. If Fitzpatrick is correct that the US dollar has topped and is in the process of a major reversal, the price of gold and silver should trade significantly higher than what is being quoted today. This will also create a big lift in the high-quality shares of the major mining companies.
Egon von Greyerz discusses his meeting with the Chinese and what they are up to in the gold market as well as what other surprises are in store for the last two months of 2018 CLICK HERE OR ON THE IMAGE BELOW.
ALSO JUST RELEASED: Look At What Is Happening Underneath The Violent Trading In Markets CLICK HERE TO READ.
To listen to the man who worked side-by-side with the Chairman of the Comex in the 1970s and called the stock market crash of 1987 CLICK HERE OR ON THE IMAGE BELOW. What he had to say about what is coming for stocks, bonds and gold is priceless.
© 2018 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the articles is permitted and encouraged.