For gold, we have been stuck in this cup and handle patter for a while now and there is a potential that this is now coming to an end. It is time for metals to do its thing..
Fed-rate-hike cycles are no threat to gold either, as it has averaged strong gains through all dozen during modern times. Rising rates really damage stock markets..
The good news is that the Papa Bear has not yet arrived, and there is still time to shift your money into Treasury paper and bullion assets. Both remain unpopular..
Bullish crossovers often to new highs on a move. Market should break above $1,821.60 on this move.
Momentum is up, an embedded bullish reading next week for gold?
Inflation? I am amazed sometimes by the amount of increases. Gold is hanging around its 18 week moving averages. Big support around $1,791-$1,792. Momentum is negative, overbought:
Demand outlook is very bullish for copper, nickel, and all base metals in 2022. Copper usage in DE carbonization and in electric vehicles result in higher demand.
