Gold has been going back & forth around the impt 1800 pivot...ranging for quite a while.
Gold & bonds (Flight to safety assets) perform well when dollar & yields go down & the market goes risk-off.
Right now, Gold & TLT are under pressure with TNX yield rising up with the recovering economy, catching up with rising inflation.
That may be suggesting that stocks still have quite a bit of room to go before gold finished consolidating & finally breaks out of that descending triangle.
After that, the rally to 2000 will be fast & furious... releasing all the energy gold has been storing all this time.
By that time, stocks will fall in a flash.
Just my personal analysis. pls share yours.
Gold & bonds (Flight to safety assets) perform well when dollar & yields go down & the market goes risk-off.
Right now, Gold & TLT are under pressure with TNX yield rising up with the recovering economy, catching up with rising inflation.
That may be suggesting that stocks still have quite a bit of room to go before gold finished consolidating & finally breaks out of that descending triangle.
After that, the rally to 2000 will be fast & furious... releasing all the energy gold has been storing all this time.
By that time, stocks will fall in a flash.
Just my personal analysis. pls share yours.