What I've been perplexed over is seeing some notable HC posters this week all convinced this is the end for POG's recent rally.
Some of my favourites were this week, particularly the past 2 days- calling for gold to fall and markets to bounce.
So last night, bounce she did. DAX, DowJ, but gold held its ground, even with the rising USD.
(I am more focussed on the US POG here)
Heck, Oil found the accelerator pedal, u could argue a double bottom there now.
Gold is kind of having a parabolic curve moment, I get that. But this time, I disagree that it has to turn back down.
The dire straits of markets everywhere are not going to be repaired overnight. Gold (as a safe haven, whether you agree with that term or not) is not going back down any time soon in this panic falls environment.
Now, a proper market correction up? Sure, let's see it, maybe then we can watch it play out. But come on! Negative rates, employment, trade, there are just too many things to mention that show us finances are kaput.
Expecting the bull trend for gold to continue from here and watching as always for confirmation.
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