XAUUSD Sellers Are Ignoring the Big Picture

From dailypriceaction.com

XAUUSD (gold) suffered a significant loss on Tuesday. At more than five percent, it was the largest single-day drop in the last few years. Even the March selloff didn’t register a loss that significant, at least not at the daily close. However, I don’t see any scenario where XAUUSD becomes a sell, at least not in the long run. The uptrend is intact as is the cyclical bull market that I’ve been discussing for weeks. chart The 45-year chart of gold above says it all. The consolidation between 2011 and 2019 formed a continuation pattern within a broader bull market for gold. But every bull market has pullbacks. ... (full story)