Investors think they can just throw a dart at a commodity and it will go up. I suspect next year will be a lot different. Over a year and a half where commodities have gone straight up..
Gold still needs to get above $1,783 area, the 18 week moving average. Gold is at a zone of support, but must not take out $1,749.90. Lots of resistance around $1,800.
Gold continues to struggle but silver and the gold stocks could be leading. But the elusive breakout points to the upside remain keeping alive the potential for a downward thrust.
Gold is fighting a battle at the 18 month average. More people are in the camp now that inflation is not transitory. I don't think labor costs are going to be transitory.
Copper makes the headlines, but GYX has been bullish all along; gold awaits its time as the message from metals land is bullish, risk ‘on’ and cyclical
