All we’re waiting for is the Fed to just pause. But Gold and the rest of the sector may not wait for the inevitable, much like they didn’t in November 2018 and October 2008, prior to massive new amounts of QE months later.
As I always say, don’t try to catch a falling knife, but wait for a break of resistance. That resistance is 1740 unless Gold falls much further, then 1680 becomes the resistance to break. Then look for a higher low followed by a higher high to signal that the bottom is in. Until then, the trend remains down for now. Whenever that bottom does occur, there is a massive amount of fuel built up for what follows.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.