Bob Moriarty
Archives
May 6, 2025

By all rights, gold should be in a correction after the ramp up higher over the past couple of months. Last week the price dropped from the record high of $3500 set two weeks ago but only dropped about $300 which wasn’t much of a correction. And in any case the Chinese gold markets were closed last week which meant no bids. As I write the Chinese are back in the market in a big way with gold up $75. I had a lot of emails with punters crying into their beer about the gold market being over.

It isn’t even near over. The highest the DSI ever got on gold was 87. When it gets around to topping it will be a lot more like 95 or 96. We have not had a top but a correction would be a good thing…

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