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Gold spent a bit of a rough time late last month as the broader market was generally seeing corrective movements. But again, the recovery was inconspicuous. Dipbuyer quickly arrested the emotional change and we went back to the more bullish talk for money.
Gold (Xau/USD) Daily Chart
Trade disputes and risk aversion continue to add to more factors that should benefit valuable metals. And it seems like how things are unfolding.
The major Central Banks have set to lower interest rates as well, and it is difficult to maintain a supply of gold or fight the larger picture story of gold. However, this has risen since last year became unforgiving. It really doesn't make sense to inhale. Now we are trapped in the $3,000 mark just three months after the New Year.
When it comes to gold, a major concern for me is that we haven't seen a healthy fix since we exceeded the key resistance of over $2,075 last year. This is a whopping 45% profit without much of the checkback. I feel that I'm a bit late. So, when we approach another big milestone, are we going to see buyers engaged in making profits? Or will this be another explosion up until the next leg?
