Crypto enthusiasts would be wise to stop comparing crypto to gold. They should do the right thing… and just buy some gold.
Gold has an embedded reading, very bullish.
Positions as of 9 November, 2021.
ETFs continued to sell, bringing this year’s net sales to 9.11M ozs. Total gold held by ETFs fell 8.5% this year to 98M ozs, the lowest level since May 13, 2020.
The week of October 22nd, there was a momentum shift in gold. It is hard to be bearish with this kind of chart action.
They will keep on manipulating the global financial markets.
I'm still a bit skeptical that the handle of the cup-and-handle formation is finished. Not just yet. Gold has to break the $1,920 area high, which gold could potentially do on this pretty powerful move..
Gold is about to get a bullish crossover with the 18 day moving over the 200 day moving average. Gold is pushing the upper band of the Bollinger Band.
Global focus will be on inflation and its impact on growth and monetary policy.