Goldprice continues to rise. The long-term trend is stable.
The price of gold rises steadily as the channel oscillates.
In my opinion, is so far an not occurred breakout over the upper trend channel, is due to the FED policy and associated with the rapid stock market rise.
However, I think that the S&P500 will not break above the 2950 level and gold will therefore gain speed again on its way up in the coming weeks.
But even if the S&P500 should be pushed further upwards by the FED policy, there is no reason for a fall from the gold price, neither on the technical indicators nor on the fundamentals.
In summary: Gold will continue to move in a stable upward channel until the S&P shows the first signs of weakness and then break out upwards.
The price of gold rises steadily as the channel oscillates.
In my opinion, is so far an not occurred breakout over the upper trend channel, is due to the FED policy and associated with the rapid stock market rise.
However, I think that the S&P500 will not break above the 2950 level and gold will therefore gain speed again on its way up in the coming weeks.
But even if the S&P500 should be pushed further upwards by the FED policy, there is no reason for a fall from the gold price, neither on the technical indicators nor on the fundamentals.
In summary: Gold will continue to move in a stable upward channel until the S&P shows the first signs of weakness and then break out upwards.