When we take a look at this chart, the highest high the market really got up to is in this $2540 area. You have a higher high and lower low, that is not a trend.
Gold reached a high of $2,522.50 on Friday before falling back amidst a weak jobs report and fears the Fed waited too long and a recession is underway.
Gold once again made new all-time highs and, for the first time ever, hit $2,500. But these round numbers also bring out a tendency to sell once they hit them.
I'll discuss factors affecting gold in September, focusing on whether the stock market is starting a major four-year cycle low or just experiencing a typical intermediate cycle pullback.
