The elections proved what we already knew. Trump’s re-election would be good for the dollar, at least in the short-term, whereas a Biden win is distinctively negative. Why? More stimulus is great for stocks, precious metals—everything except the dollar. Both Trump and Biden planned to massively increase spending, but Biden is expected to spend so much more than...
Gold began rising in earnest on October 30, which coincided with the bottom in stocks and the peak in the dollar. It ignored the rise in bond yields that began two days earlier.
It proceeded to break out of its bull flag on November 5 and spiked higher in the process.
Then on the evening of November 8, Gold dumped back below the former resistance line and set a...
GOLD
Gold has found at least a short-term double bottom at 59.44 (1851). It has since bounced to 62.26 (1935). Yet no major resistance has been broken, and therefore today I am going to focus on the parameters to signal whether the bottom is in or lower lows are ahead.
So far, Gold is rebounding in a corrective fashion, in 3 waves up: abc. The two resistance...
