August 27, 2025 - (Gold Market Wire) - Gold is engaged in a classic back and fill, retracing 50% of yesterday's bar. The chart shows the level we need to hold into the close, and especially the Friday close, which will also be the monthly close.

Right now, Gold is going to be underpinned by the spectre that the IMF may be called in to rescue the British economy, not to mention the currency, which has been flooded with excessive debt caused by out of control government spending. This, when added to the expense of a wild gamble on a war with Russia, now gone horribly wrong, are threatening the UK in the most serious of manners. This is not the 1976 vintage, where massive oil price increases and development of North Sea oil can come riding to the rescue. When coupled with the dismantlement of German industry caused by the destruction of the Nord Stream pipeline from Russia, and the ever increasing costs of French nuclear power generation...Europe may be reaching its Gotterdamerung (Sunset of the Gods).

Debt to GDP is out of control in the UK, at 100%+, which compares poorly with its primary adversary, Russia, at 17%. The endless years of reckless borrowing are catching up with all the nations of Europe. The landing will be devastating.