Exchange-traded funds (ETFs) continue to sell gold, bringing this year's net sales to 7.27 million ounces, according to data compiled by Bloomberg. Total gold held by ETFs fell 6.8% this year to 99.8 million ounces.
Gold's weekly chart shows the 18 week moving average as resistance with no trend. The weekly chart shows us nothing, waving back and forth without momentum.
This is the main reason I strongly advise against shorting during a 3rd wave in a bull market. They are often strongly trending structures, and that is what we have seen ..
