Words are hard to find when reviewing Gold’s monthly bars since 2010. Unlike the S&P 500, which is far overvalued despite weak earnings, Gold still trades at a discount to Dollar debasement. Got Gold?
Despite already being huge, this gold bull still has legs. As gold resumes powering higher on balance, gold stocks will continue to outperform catching up with it.
Notably, even the Fed has confirmed that U.S. banks are extending impaired CRE mortgages to avoid recognizing losses, leading to credit misallocation and a buildup of financial fragility.
Gold was coming down on a weekly chart, and now it's back up, with a 0.8% increase. Momentum pointing up, trend up, bias up — could be headed into that $3480 zone.
When I look at the gold, as long as it can stay above this 18-day average on a closing basis, I'm in the bull camp on it. You can see it's above all the key averages.
South Africa is set to open its first new underground gold mine in 15 years—an increasingly rare event in a country that was once the world’s top gold producer.
