A lot of gold bugs are now focused on the “vax” discussion, but they mainly discuss the questionable vax for Corona rather than the failed fiat vax for gold.
It can take a while for the bottom to complete itself in gold as the gold cartel finishes its work. We may see gold retest its recent daily cycle lows.
A lower than expected GDP number was matched by an equally sharp rise in June personal income and personal consumption. Gold pared some of the week’s gains.
It has been my opinion for some time that the intermediate cycle low has been hit in gold. The Gold cartel fought tooth and nail to push gold behind $1,800 but the FOMC meeting was potential trigger event..
