So, while I cannot tell you with certainty that we have begun the rally to 4300+ just yet, I have given you an outline as to what you should be looking for in the coming week or two.
Most companies under coverage are assuming inflationary pressures seen in 2022 will persist into 2023, but slowly taper off thereafter. Newmont's five-year outlook..
We continue to view the uptrend as a bear-market fake, implying it is incapable of achieving new all-time highs. But it could get close enough to scare the hell out of bears.
The weekly gold chart shows a bullish crossover of moving averages, as long as $1,808.80 area is not taken out, the bulls have a chance to build from here.
I think a trade bottom is in place for gold, I have not yet joined the bull camp, but will I? I might.
I have not joined in the bull camp, but if we break $1,852.50...
