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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.

https://share.trendspider.com/chart/GLD/4669to3fmb

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