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..
Chris Wood, global head of equity strategy at Jefferies, has upped his allocation to 10% from 5% for Bitcoin at the expense of gold bullion in his recent Greed and Fear report.
Gold miners have been fundamentally impaired by the inflationary macro as costs (energy, materials, humans) have outpaced product (gold) for well over a year.
Gold market is not an easy market to make money in. Up a little, down a little. Almost impossible to make sustainable gains right now. Virtually impossible to time the tops and bottoms during this churning stage.
