First understand that there is no rational explanation for the day-to-day histrionics of deranged markets.
Gold nearing the $1,795 area resistance.
Indian physical gold demand and Indian jewelry demand will be less in the short term due to covid worrying situation.
Technical stock updates.
Positions as of Tuesday, April 13, 2021.
I am about 100% convinced that the intermediate cycle low was hit and now we have yesterday's aggressive move above the 50 DMA..
It takes about 6 years to develop a new copper mine. Dollar might be getting some support here. Gold had a nice rally, but so what?
I do not believe in chart patterns for trading off of. The swing lines in gold shows that there is no trend. Difficult sideways..
The market is telling us a story. It is not too scared, yet, of inflation.
Gold another failed move. All eyes on the CPI numbers.