BCN beacon minerals limited

i think there is a chance gold has bottomed in its consolidation...

  1. 6,372 Posts.
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    i think there is a chance gold has bottomed in its consolidation here
    a few lower wicks on the candles
    https://hotcopper.com.au/data/attachments/7009/7009100-fe8cd95025dbc6331791f368fa065c9c.jpg

    SPX gold ratio (monthly candlesticks).. bumped its head at horizontal resistance 1.87
    https://hotcopper.com.au/data/attachments/7009/7009108-86808bf9df3012cb7266b40e15a1c8fa.jpg

    DXY long upper wick has pushed it back down to the horizontal support / resistance line
    though i would say .. similar to teh GFC.. the inverse relationship between godl and DXY is broken, priimarily because in my opinion Russia and a few others aint buying US debt at any price.. gold has become the first choice reserve asset obver US debt... still for relevence to our stock market a break sown of the DXY is required.. so its relevant to us in terms of capital rotation out of the US markets
    https://hotcopper.com.au/data/attachments/7009/7009110-9267fd6ccb7e44d5b844d5443d4aa88d.jpg
 
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