BCMel
Long

XGD just starting or correction first?

ASX:XGD   S&P/ASX ALL ORDS GOLD
Aussie gold stocks have moved with the latest spike in gold . But the RSI and MACD indicators are screaming overbought already, just three days in to what seems to be a revived bull run in the precious metal!
A pullback in the overnight (Australian time) Comex gold futures will do the trick.
What is impressive about this take-off in gold is that it does not appear to be dollar-driven.
DXY is still in bullish mode with positive MACD and no early sign of a top at the time of writing.
Comment: Key buy stop on gold futures quoted by Kitco at 1335.70.

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