Be careful what you wish for...I said we needed more volume, and we got 182,000 so far today. Argh!
Gold needs to make a bottom and turn. That may not happen overnight.
Yesterday, I saw a graph of gold as a perecentage of investment accounts. My takeaway is that over recent years it has declined from around 5% to around 1%.
Two things I view as likely:
First, something will rock the stock market's boat before year end. I don't expect a crash, yet.
Second, the chart for Margin Debt mirrors the chart of the market, meaning it too stands at an all-time high. Margin calls accelerate sell offs.
Bonus, Gold will get healthy sooner than the NFL does.
https://www.advisorperspectives.com/dshort/updates/2017/09/26/a-look-at-nyse-margin-debt-and-the-market