'Calm before the storm'; brace for gold, stock markets 'breakdown' - Chris Vermeulen
Both stocks and gold are showing technical chart patterns that suggest an imminent correction, said Chris Vermeulen, chief market strategist at TheTechnicalTraders.com.
“It feels like the calm before the storm. I think this market, the stock market, is setting up for potentially a pretty big downdraft,” Vermeulen said.
When a sell-off happens in the equities markets, the metals markets usually get dragged down in the short-term, Vermeulen noted.
“I think we could get a wash-out low here in gold and silver over the next weeks or even next couple of months,” he said.