We had a strong day before the fed meeting announcement and then during the noise conference, PM's did even better. I actually thought Powell might stub his toe creating the catalyst for a capitulation, but he actually handled the conference well. DXY is still down (below 90 again) with JPY and EURO stronger meaning today, currency traders view the dollar as the dirtiest shirt in the laundry. I believe there is a good chance for a gold price below $1300, but that is looking to pick an exact bottom, something I have proficiently failed doing in the past. We are low enough now and on the cusp of a big secular PM move up commencing shortly, so I hold my positions slowly spending down cash on a fairly uniform basis. What is amazing to me is that PM's are not changing in value or unit wealth representation, the amount they go up is a direct reflection of the poor job being done by central bankers and politicians via the diminishing purchasing power of the various currencies. No wonder their price is suppressed, the coming report card is going to be line after line of failing grades.
When I read "When buying stock, how low is low? I consistently get surprised when low is a lot lower.... " I had to smile. I am underwater on a couple issues by a good margin