The very recent hours in gold were calm, but don’t let that fool you. After testing new highs, gold is likely to move far, up or down.
Exclusive Gold Price Analysis
During sharp rallies, it’s nearly impossible to convince investors that this move is about to end. And yet, that’s exactly what is likely.
The reversal in stocks is crystal-clear. The ones in the USDX, gold, silver, miners, and crude oil are not. They’re still super-important, though.
Silver shot up again! Excited? And rightly so, because it’s a very important indication.
Gold is trying so hard to move above $2,000… The dramatic attempt gets many heads turning, but… It doesn’t look good.
Miners have already decided what they want to do, and now they are simply waiting for a sign. And they are about to get it.
The yellow metal’s pivot dreams could become a reality. But should it be celebrating the economic weakness?
That’s all, folks. Whatever “bullish news” for gold was likely to happen has likely already happened. And you know what happens next?
Gold Price Analysis
The US Dollar has recently been on a downward trend, largely fueled by increasing speculation about potential rate cuts in 2024.
The huge rally in gold and the monstrous decline that followed provided a sign of epic proportions.
Expectations for gold to move higher in price are often tied to worsening inflation and a possible collapse in the U.S. dollar.