Despite retail gold ETF investors exiting bullion, the long-term money is making a contrary bet. The People’s Bank of China raised its gold holdings 25 tons..
By Dollar debasement Gold today at $1,873 is but 49% of our (conservatively) realistic Scoreboard value at $3,807. But debasement alone is not the only Gold positive..
The smartest thing you (traders) can do in gold right now, which is oversold, is sideline yourself for a day or so.
An all important jobs report coming out on Friday..
A dip to $1815 now would be just what the “technical analysis doctor” ordered, to create an inverse H&S pattern right shoulder… and a post-report rally to $1885.
Interest rates are still rising and the Fed meets March 21-22 where another rate hike is assured. But will it be 25 bp or 50 bp? All signs continue to point to a recession..
