The big event of the coming week is the annual Jackson Hole symposium of central bankers where Fed Chair Jerome Powell will be the keynote speaker. Will he or will he not hint at a September rate cut?
The market is void of a trend, in my opinion. Momentum's still pointing down, bias down. I think the market's still in a short-term downtrend, if I had to put any label on it.
The large bull Pennant consolidation pattern in gold that has been building out for almost 4 months from mid-April is now approaching completion as we can see on its 6-month chart...
Your December gold chart: higher low and pullback. The market is giving you the opportunity to abandon long positions and come back in at better pricing.
The People’s Bank of China increased its gold reserve in July, marking nine straight months of purchases that are helping it diversify its holdings away from US dollars.
