Articles
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These signs suggest a major bottom in gold and commodities is almost here
BY goldscents (toby connor)
DOLLAR TOP, COMMODITIES BOTTOM APPROACHING
While I suspect this is probably the furthest thing from what most investors expect, I think the dollar index is very close to forming another major top, and once it does it should release oil, gold and the rest of the commodity index from their extended corrections. Granted no one believed me when I called the major three year cycle low in the CRB last summer either.
As you can see in the next chart, as soon as the dollar began to rally out of its last intermediate bottom, commodities, including oil and gold, all began to move down into major intermediate degree declines. For gold this has turned out to be one of the most difficult yearly cycle lows of the entire bull market, other than the eight year cycle low in 2008.I know it doesn’t seem like it but I can assure you that the gold bull market is not dead. This is just a very severe move into a yearly cycle low. Granted it is one that was exacerbated by some short-term manipulation right after QE4, but still just a normal cyclical decline that tends to occur most years in early spring. Since this particular yearly cycle low has been so severe it should act as the spring board for the next major leg up in the secular gold bull market.
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