Well, with China/US trade news, if its implied relief has some staying power, gold will under-perform at best, if not continue to correct.
President Trump’s return to the Middle East this week, the first since his first-term 2017 visit, will take place amidst great turmoil.
At Cottonwood, the focus was to confirm and expand the area of known gold mineralization. The three RC holes intersected highly altered rocks with associated gold anomalism from the beginning to the end of all holes.
If gold prices continue to rise, it will be interesting to see how Indian consumers continue to adjust. One thing is pretty certain -- they will likely find ways to have gold.
In uncertain times, clarity is a form of strength. And so is gold.
Amid global economic chaos and geopolitical uncertainty, gold hit an all-time high of $3,500 an ounce on April 22. Year to date, the precious metal is up 29%.
If the bears prevail, gold could trade at my major buy zone of $3150-$2950. The triangle target is $2900.
You've actually got on the swing line, higher lows, and a higher high. You're oversold, you've come down hard.
Gold can range trade as long as key very short-term resistances are not broken.
