Where is the resistance for gold on the Bollinger? $1,940.50 area. This is where pros take money off the table on the first attempt higher. Gold is losing its embedded reading, this is a problem.
Americans are gleefully tossing their virus masks into the garbage can, just when they should consider buying hazmat suits and building bomb shelters. Alas, such is the irony of life.
Our sanctions were basically a slap on the hand for Russia. You have to be very careful in these markets. They can bite you like this.. Gold has strong support on pullbacks.
Will Russia invade? Will inflation prove to be just transitory? So far no. Will oil prices top $100? Will gold break through $1,900 and head for record highs?
Gold may be getting an extra boost from post-COVID buying as Swiss imports into China were the highest last year since 2016. Indian buyers nearly doubled their purchases in 2021 to 611 metric tons.
The next two weeks are very crucial for gold, silver, base metals and global stock markets. Momentum and technical are very bullish for gold, silver, crude oil and natural gas. Base metals will be very volatile.
