$1,833 is the swing line on the upside with higher highs and higher lows. Big support brought in the pros buying near $1,800. Gold needs to hold $1,798.10..
The Fed has turned stock, bond, OTC derivative, and mortgage investors into QE welfare recipients. It’s a sad situation and I’ve argued that the Fed needs to be closed down. Immediately.
For gold, we have been stuck in this cup and handle patter for a while now and there is a potential that this is now coming to an end. It is time for metals to do its thing..
Fed-rate-hike cycles are no threat to gold either, as it has averaged strong gains through all dozen during modern times. Rising rates really damage stock markets..
The good news is that the Papa Bear has not yet arrived, and there is still time to shift your money into Treasury paper and bullion assets. Both remain unpopular..
