While gold is overbought, there’s no bearish action on the charts.
So I'm looking at my bullish gold, I am long-term.
I have always said that “hope” is the most dangerous four-letter word in the English language for an investor or trader.
The market's got a pattern of lower highs, lower lows. So the trend, the short-term trend is down, but you always put filters on it.
While gold makes fresh all-time highs, silver is nowhere near its nominal highs of 1980 and 2011 near $50. The gold stocks also remain well down from their nominal highs in 2011.
With wider markets bracing for the potential prospect of Trump 2.0, a poll showed most investors reckoned such an outcome would be bullion positive.
The resistance has been the upper Bollinger Band. And what's been the one constant all the way through? the bullish embedded reading.
We are at the time window and now things get interesting. In my opinion, risk should be managed like never before. Not overreacted to, but managed.
Gold’s highs, indeed. ‘Tis been thus far an amazing year. But is inflation, dare we say stagflation, perhaps to appear?
Positions as of 29 October, 2024
