The market had what we call a kiss pattern; the 18-day average, a few days ago, went down, skirted right on the 200-day average, the market then came out of that and it lifted.
Oversold gold stocks riddled with capitulatory bearishness is an anomaly that will be short-lived. They are due to mean revert sharply higher with gold.
You have the same number practically for the 18-day average and the 100-day average. That's called a bullish convergence right there, now which way is it going to go?
Analysts at the Australian bank noted that annual central bank gold demand has nearly tripled and now makes up 25 to 30 percent of total global demand.
