gold, page-84686

Gold stock sentiment indicator.
Nothing much has changed.
Even the Fed change in policy direction (note that they have been targeting an increase in inflation for years - to no effect) is not relevant without some change in action.
Not many options left except to tackle corporate (and hedge funds?) behaviour.
Unproductive middle men are bleeding countries and companies dry.
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I am going to make a bold call here. We are now embarking on the next leg up for the gold sector.
Before setting new highs, there are various levels of resistance to get through so I expect each decent move to be followed by a short consolidation period and the odd minor rejection.
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Unlike many, I do not believe the USD is going to collapse.
Apart from very solid support that has hardly been dented, it will still be the go-to if there are any market jitters.
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Producers are following POG moves and weak hands are still being shaken out of positions.
What is interesting is while leading indicators have fallen back to the sub 40% area, the sentiment indicator has ticked up a little.
This suggests quality juniors are well supported and bargain hunting may be underway.
There is a good degree of pessimism out there and expectations of a pull back in POG to the US$1,750 area. I do not agree.
A move of this scale would have most stocks going into a bear trend. Support would be demolished all over the place.
We are in a bull market.
The recent pull back from the high has been timely, healthy and appropriate.
Monday is looking good.
Here is the indicator.
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