Between a Rock and a Gold Place

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Gold is currently wedged in between $1300 and $1350. I have a medium-sized short position on it right now, and my view is that we’re going to break down below the current range and resume the bear market in precious metals in earnest. I’ve tinted the chart to suggest where I think we’re at right now, analogishly-speaking. I’ve put in the image of Ms. Fenn only because there have never been such glorious eyebrows.