In our last gold chartbook from March 19th, 2021, we assumed that gold had likely started its typical correction in spring. At the same time, we figured that the first leg down from US$2,070 to US$1,895 might have run
Gold Chartbook - The Big Boys Are Playing Yoyo
Summary
- The big boys and the bullion banks are playing their games in the gold market pretty successful for decades already.
- In the very short-term, gold might remain under pressure, even though yesterday’s V-recovery is looking promising.
- However, the daily chart is kind of oversold and hence in a promising position for another recovery rally.
- To summarize, gold should soon rally towards US$1,960 again.
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