July 16, 2024 - (Gold Market Wire) - The attempted assassination of former US President Trump is impacting the Gold market, as confidence in the US political system wanes. Gold is a barometer of confidence, and it is merely doing its job.

The above is a daily chart...but to give some perspective, let's take in the monthly for a long term look at just where we are.

Double your money in six years? Not bad. And we're not done yet. That's why we hold the core so closely.

If we were to fashion a point for the contrary, we'd note that Silver is still not breaking out. That is giving us a pause for concern:

So, bang on 81 for the gold silver ratio. That's about normal. The only question now is - does Silver break out?...or does Gold pullback?

It's tough to see, in the current environment, how we pullback - war, politics, etc. But we should be retracing. The market rarely makes it easy. We remain concerned by Silver's recent failure. Time will tell.

But bulls can rest assured of one thing: this market may retrace, and even go quiet for a bit, with a Trump victory, and Presidency - but the Bull market is far from over. It has, at our latest estimate, at least 2-3 years more to run.

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