Replies to post #39667 on GOLDBUGS AMEX Goldbugs Index (GOLD)

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The Gold Close for 2019
By: Marty Armstrong | January 1, 2020

Gold finished at least above the Yearly Bullish, but still below resistance at 1585. The Global Market Watch showed gold improving and poised for a rally into at least January. What we have to pay attention to is the ECM turning point come January 18th. The dollar should soften into that period which will help gold to rally a bit. Then the dollar is likely to rise into 2021/2022. However, gold should not just collapse altogether. It is more likely to retest the 1432 level or 1362.  It looks like everything will begin to align and gold should hold and prove to be just a retest of the low. This is due to the fact that gold will align with the dollar for what we see in the years ahead is a flight to the dollar, but also a flight toward gold from foreign capital.

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