Gold stocks have become overbought in the short term, but on the weekly chart, they are still oversold.
When we look at the daily chart, we've still got this gap. The market is going up and it's giving us a pattern of higher lows on the swing line.
We're getting an exhaustion gap or a breakaway gap. It's still bullish, the market's running to the resistance of the 200-day average.
Gold has been the best performing major asset this century. Gold is a long-time safe haven in times of economic stress and political dysfunction.
The deviation from historical correlations between real yields, U.S. economic data, and the price of gold may sustain gold's ongoing uptrend.
Day traders and jobbers can have a wild time as there can be very sharp zig-zag type price moves in precious metals, base metals and energies this week.
At least until Gold posts a new All-Time High above 2089 — we still see price as more range-bound than moon-bound.
Positions as of 17 October, 2023.
The combination of much-higher prevailing gold prices and forecast lower costs ought to make for some of this sector’s best earnings growth ever.
The junior gold stock charts are bullish. More geopolitical volatility in Gaza could bring the gold price to $2085
