Are the precious metals over bought? Oh, of course they are and they have been for quite some while, but the trend remains upward and the process of global diminution of fiat currencies remains firmly intact. This is, then, a rebuking not just of the Fed’s policies, but this is a collective, catholic rebuking of the policies of the ECB, of the Bank of England, or the People’s Bank of China et al ad infinitum. More, we fear, shall follow..