Gold makes another attempt to breach the $1800 level
Financial markets generally biding their time ahead of next week’s Fed meeting

(USAGOLD – 10/28-2021) – Gold is making another attempt to breach the $1800 level this morning in generally quiet, featureless trading. It is up $6.50 at $1805. Silver is up 4¢ at $24.18. Financial markets, in general, appear to be biding their time ahead of the upcoming FOMC meeting next Tuesday and Wednesday. Equity Management Academy believes that gold put in a seasonal bottom in September and that investors should add “aggressively” to their core holdings on pullbacks.

“The gold market has been completely ignored during the past 12 months,” it says in a recent Seeking Alpha article. “We have gone into a second corrective wave that is about to revert and begin the third leg of a long-term bull market that started in March 2020. The fact that gold is ignored may be one of the most bullish signs from a historic perspective. When gold unleashes its reversion to the mean, it will be a strong move and most people will miss it. The collective sentiment on gold is the most bearish in the face of the most bullish fundamentals ever. The economics of price alone are a screaming buy signal when you compare it to other financial assets, digital or non-digital.”

Chart of the Day

US Dollar/Argentina Peso
line chart showing depreciation in the Argentina peso against the U.S. dollar 2012-2021
Chart courtesy of

Chart note: It took 10 Argentina pesos to buy a dollar in 2015. It now takes almost 100. 

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