Gold is shining brightly today even as US Treasuries break to the highest yields of the year. It’s an impressive rally that is fighting its way upstream in a tough market.
I strongly suspect that central bank and Asian buying is the main driver of the impressive move in the past month.
gold daily d
I talked with Kitco yesterday about the bull market in gold and why it still has fuel to burn.
There isn’t a great deal of enthusiasm in gold yet as the bull market has been drowned out by crypto and Magnificient Seven stocks. With those now cooling, there might be room in the conversation for gold.
Technically, the blue skies from record highs don’t make for easy levels so it’s the big round ones and things like the RSI that matter.I expect $2300 to offer up some resistance but the big target for bulls is $2500.