Barrick has showed tremendous relative strength, holding its low, a great sign for the sector as a whole. A lot of open candlesticks indicates buying pressure.
Monetary policy is causing major trouble across a number of sectors. Who can tell where the biggest crack will appear first. But, when it does, you’ll be pleased you chose to hold gold and silver during times like these.
In the gold market, I've been looking for the 1895 level. If you want to hold on from yesterday's low of 1900 and you're hoping to get out of this market another $2...Why?
It shouldn't be too much longer before we start to see the sentiment, "Gold will never rally again, I will never trade gold again," and...that's the kind of sentiment you want to buy into
You don’t want to chase these markets that are mature and stretched to the upside. The stock market is setting up for some kind of a mini crash between now and September.
When I look at the gold market...you can see how the prices have been falling. The only moving average it's not underneath is the possible target of 1895.60.
Gold was caught by the European Central Bank, which announced it's going to keep raising interest rate hikes and said they will get inflation down, and that took the gold market down.
We have reached the decision point that we have been expecting for many months, and this summer will likely tell us which side (bulls or bears) emerges victorious.
