Gold has been bullish for the last 2 years and now reaches an interesting juncture where its latest retreat presses against its upper trendline.
Instinctively, I am thinking that the falling USD and ample USD liquidity means this line will break higher and Gold will head higher again. Central Banks are selling gold however and there may be a shift from Gold to BTC as a store of value so there may be other deflationary pressures causing Gold to fall instead.
Watch for the break out either way.
Instinctively, I am thinking that the falling USD and ample USD liquidity means this line will break higher and Gold will head higher again. Central Banks are selling gold however and there may be a shift from Gold to BTC as a store of value so there may be other deflationary pressures causing Gold to fall instead.
Watch for the break out either way.
