The precious metals of Gold and Silver saw net September declines of -$285.58 (6.4%) to $4155.56, and -$6.12 (9.2%) to $60.40 respectively.
Gold, monthly1b
Silver, monthly1b
Summary
Gold: a powerful net monthly decline,
printing a low of $4111, and settling at $4155. Momentum weakened for a seventh month, and is on the low side.
Silver:
a very powerful net monthly decline, printing a low of $60.27, and settling at $60.40. Momentum weakened for a seventh month. and is moderately negative.
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The concerns should be...
1. If equities see a washout between now and the midterms. Even if the SPX sees just minor cooling of -5.0% to the 7300s, its almost impossible not to see gold/silver/miners get dragged down to some extent.
2. If the dollar strengthens.
3. If the Fed raise rates Oct'28th, and/or Dec'9th
4. If the US 10yr yield climbs to around 5.50%
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