Will gold have a meaningful pullback now? Well, it’s rallied more than $300/oz from the $1610 area low, so of course that’s possible, but it may not happen.
Major attacks after gold broke the 200 dma has failed. Cartel will lose a lot more battles, a lot of money. Gold had to get above the $1,825 area to first confirm the end..
Most commodities were in a severe bear market until everything crashed in the spring of 2020 including the PM complex and the US stock markets. What followed next was one of the strongest bull runs..
Markets act as predictors. A solid up January may be portending only a mild slowdown. But many risks remain and a mild slowdown can suddenly become a hard landing.
Indeed Gold settled yesterday (Friday) precisely at 1923, its first weekly settle above 1900 since that ending 22 April. Is this finally the squashing of those who arguably suppress price?
