As Winston Churchill famously said in the dark days of WW II, “This is not the beginning of the end, but it is the end of the beginning”…
Gold prices have been in a wrenching bear market since 2011. Along with Gold, Silver, Copper, Iron and most other metals have been pummeled as deflationary forces sucked all commodities downward, causing much of the current turmoil in financial markets.
But now Gold has spiked higher, perhaps leading on the way up as it led on the way down. A concurrent top in the US Dollar may play the ultimate key role in putting a bottom into commodities prices globally, which perhaps signals the End of the Beginning of the current turmoil.
Gold chart from CommoditiesCharts.com