Yes, Gold is going to stay in a strong bullish trend due to econometrics. I will not advise entering a sell position below the 1800s.
However, this bearish trend is going to coincide with the drop in treasury bonds, and the subsequent rise in the US10Y.
Technically speaking we can look at 1764 area, but I strongly believe, waiting for it is not going to take forever.
Buyers will jump in the moment we break 1782 threshold, and we might see a reversal from 1777.
DXY is staying strong until the FOMC.
Bonds have lost the appeal due to fear of rising interest rates sooner than expected.
US10Y will get a boost subsequently.
Gold, although being an inflation hedge, still has some time before the yellow metal shines.
I believe, we have 2 - 3 weeks before seeing any strong upward momentum that is sustainable, (focus on the word sustainable).
If you have a buy left in 1800's, do not worry, if the equity allows you to keep it, you will see it turning positive soon.
I am treating this downward drop to be the last one before the rise to 1900's and above.
However, this bearish trend is going to coincide with the drop in treasury bonds, and the subsequent rise in the US10Y.
Technically speaking we can look at 1764 area, but I strongly believe, waiting for it is not going to take forever.
Buyers will jump in the moment we break 1782 threshold, and we might see a reversal from 1777.
DXY is staying strong until the FOMC.
Bonds have lost the appeal due to fear of rising interest rates sooner than expected.
US10Y will get a boost subsequently.
Gold, although being an inflation hedge, still has some time before the yellow metal shines.
I believe, we have 2 - 3 weeks before seeing any strong upward momentum that is sustainable, (focus on the word sustainable).
If you have a buy left in 1800's, do not worry, if the equity allows you to keep it, you will see it turning positive soon.
I am treating this downward drop to be the last one before the rise to 1900's and above.