The general sentiment among commodity speculators and commodity traders is that of an overall hyper bullish trend in soft commodities, industrial metals and energies.
Gold is approaching the resistance and it is doing so early on in the daily cycle. Not only does gold need to get through $1,835 area quickly, but also $1,880 within two weeks..
The US CPI report will be released on Thursday, and it may determine whether gold trades at $2089 next, or whether there’s a “pitstop” at $1566, enroute to $3000.
Gold has been a FRUSTRATING trade for the last year and half. It has gone NOWHERE. There is more than one way to build more fuel for the next leg higher in the market.
