Gold's record levels, absent American stock investors, has been a show of strength. Sooner or later, investors will accelerate this gold upleg to monster 40%+ gains.
The pattern is almost like a stepping ladder and each time you get a rally, it seems to break those lows. Those are also making for a downtrend with lower highs and lower lows.
You're still up in gold 1.34% but the pattern: lower highs lower and lows. The challenge for the gold market is: Can it get back up and over the $2369.60 level?
Gold price is about sentiment on a societal level, not just among gold bugs. My rebuttal seeks to add layers to another analyst’s opinion, not express outright criticism.
