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War Concern Peaked, But Did Gold Price Peak?
Gold price moved higher on Wednesday, and this move might be confusing. Is the pullback over? Or is this a broader top? Let’s take a look at the charts to find out. In short, the current situation is similar to what we saw in May, and it’s also like something that we used to see earlier this year. The March, April, and May tops were close to each other. That didn’t prevent gold from declining, and neither will it prevent gold from declining right now. How do we know that gold is likely to decline from here and not rally, just like the USD Index? For example, because mining stocks declined recently, ... (full story)