Technical analysis aside, Gold's swoon is incredulously beyond any and all fundamentally analytical common sense, even as today mention is made of a "five-figure" price.
Realize that the biggest financial bubble in U.S. history has popped. Although this is becoming increasingly obvious, you can be certain investors are waiting to jump back in at the subtlest sign of a bottom.
Staying over $1,753.90 keeps the overall uptrend in gold on the monthly chart going. Why is gold falling? Banks are raising interest rates and creating a headwind.
I am seeing a lot of people getting really bearish here, and once again, we are seeing a similar thing as we move into an intermediate cycle low. Gold needed to close below the uptrend and that has occurred..
The tide is here, interest rates around the world rising. Copper is going nowhere until China changes their covid policy. Gold at some big support here..
Morgan Stanley has reduced global growth expectations for 2022. They say that it will be very difficult to achieve pre-2020 growth due to hyperinflation and rising interest..
Markets will read many things into today's inflation data. Is it the peak, is it coming down, is it still streaking .. ? The 10 year note has seen its yield back below 3% so someone believes inflation has peaked.
