I'm a fundamental analyst first and foremost so I've been struggling with why gold hasn't been working as inflation accelerates to mid singles y/y percent growth and only looks to be going higher due to labor constraints. I thought BTC and #crypto took share from gold but I now think most HF investors that were in BTC are out so not sure that is the case anymore. And, crypto is now in down cycle so gold should be able to regain some share. From a technical perspective looks set to break out of this multi-year cup and handle formation, which would be a huge move.
Comment
This has taken 4 months but now the GOLD CFDs have broken out of the handle and the GLD ETF is on the cusp of breaking out. This is gold's last stand IMO.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.