Gold climbed to the highest in a month after a surprise slowdown in U.S. inflation revived expectations for Federal Reserve rate cuts this year, reports Bloomberg.
We're now moving lower in wave $iv$ which appears to have become a bullish triangle, although it may now be complete at the 2656.70 low. If that's the case, then we're starting to thrust sharply higher...
Many modern-day stock investors don’t know what ’tis to truly be “freaking out”. They’ve yet to experience the “Look Ma! No Earnings!” crash or the “Look Ma! No Money!” crash. There’s more than twice as much money invested in the stock market than readily exists.
Gold has mightily defied the US dollar’s massive surge in recent months, mostly drifting flat in a high consolidation. Fundamentally-superior smaller gold miners will soar.
When we look at the gold itself, this is a new high for this move but you're into an old resistance area...The pattern is still very clear with higher lows, higher highs.
