Steve St. Angelo says geopolitical concerns are dying down, pushing metals prices down.
If we have a significant stock market selloff, gold and silver could fall further.
However, we’re much closer to the metals’ lows than the stock market’s lows, St. Angelo says.
Could gold fall as low as $1000? He says it’s possible, but highly improbable.
Gold and silver American Eagle sales are down significantly, and sentiment in the metals markets is extremely low. This signals we’re close to a bottom.
This low metals’ sentiment is coinciding with a high bullish sentiment in the stock market. A reversal is coming, he says.