Gold Still Shines – Action Alerts PLUS

Gold is correcting slightly from overbought, but light volume in SPDR Gold Shares (GLD) tells us this is just a pause.

The graph shows a strong pattern of higher highs, higher lows but storing energy to run at 200 ma (approximately 168). Furthermore, there is a bullish W pattern continuing to play out, the $175 target being a good one.

Even though inflation conditions are being ‘understated’ in the media, the data continues to show us that there is a lot of inflation around and even if it stops rising, the price level will remain. increase for a while.

The dollar is showing some weakness as yields have fallen at the long end of the curve, which tells us gold will be an alternative to these other asset classes.


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