GOLD XAUUSD Still Bearish Chart

RealMacro Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
I have been cautioning on social media that gold has been, and still remains, one of the least effective inflation hedges available.
Before considering investing in gold, we should wait for it to surpass its previous all-time high from 2011 and sustain that level.

It seems illogical for any investor to choose gold, which offers no yield, dividends, or earnings, when they could invest in a
one-year bond that guarantees a 5% yield on their return on investment.
While the Gold chart is still bearish even a break above the $2,200 offer little reward of only 20% before once again banging its head up against the longer-term trendline. I do not define this as a good risk reward.

Nothing exciting about gold.

As inflation falls to 5% Gold struggles to make new highs.
Gold still can't break out.
Still can't punch through.

Not only can it not punch through but Gold is starting to look like it wants to turn over.

Here is a closer look.
Gold update getting closer to the bottom for the key break.


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