Loading ...Gold
Ok..Gold has held up much better than most financial “assets”
BUT if you had told me that the Fed would do 2 surprise CUTs to Zero
and that the whole financial system was crumbling
and Gold would DROP $250 …I would have had you certified and taken away to the Funny Farm
The joke is on me
Funny old world isn’t it?
If you look at the MACD on the weekly chart for gold, since 2016 every time the MACD heads back down toward to the zero line, it has been accompanied by a large, prolonged selloff–namely the post Trump election massacre in 2016 and the long move down betweeen April ’18 to October ’18.
Obviously, anything can happen in this crazy market, but I would not touch gold until the weekly MACD crosses below the zero line and we get a swing low on the weekly chart. This could be a slog.