Chartists would look at this, I think, and offer that we are facing one of two possibilities, given that we have broken below the recent triple bottom set at the end of last month, if in fact that was the triple bottom. It may not have been because the lower end of that expected range was 1180 for gold, which was not quite achieved.

So, if today marks the triple bottom event, we can look for sharply higher POG starting almost immediately, like sometime next week. If we are beyond the triple bottom event, look out below!

Having pointed this out, I am not a chartist, and "gloom and doom" from here is not presently being supported by base metals prices, which are comfortably higher, except for copper, which is off slighly, but still well above 3 bucks.

https://finance.yahoo.com/echarts?s=GLD+Interactive#{%22range%22%3A%221y%22%2C%22lineType%22%3A%22combo%22%2C%22scale%22%3A%22linear%22}

Just some background data while we continue to wait on news.