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.
Specs’ gold-futures positioning has far more room for buying than selling. That should be catalyzed by raging inflation from the Fed’s epic money printing, and bubble-valued stock markets rolling over..
