Loading ...1900$ gold in July 2020
Gold is just so much stronger than the rest of field in PM complex. Human psychology refuses to accept easy plays (child hood memories of parents telling you if it’s to good to be true…)… and our greed always makes us go for the “home runs”… ie silver.. miners… bitcoin!
The faster we grasp that concept… if I was limited to only items in the precious metals complex… Right now, I’d have 90-100% gold metal… and maybe 10-0% silver metal. Then when silver wakes up… and gsr proves it’s in a downtrend.. re balance.
After cancelling out all the coronavirus noise, the facts remain: negative interest rates on Trillions of debt instruments, M2 money supply running double digit, and REAL interest rates below inflation= bullish gold prices.
yes.. all above macro drivers were not cancelled by corona.. but applyfied… because of the response.
Interesting chart. Thanks Patrick. Isarmina – you are 100% correct. Things just got a whole lot MORE bullish for gold.
Yep. Monthly defined support held at 1560 for gold. This could be the low point entry as any. I’m going back to more charts now …