I also suggest a focus on CAD in relation to Oil, USD is the only lagging currency against the CAD on this chart. Fundamentally speaking the Canadian dollar will feel the affects of Oil being cheap as it is but surprisingly the United States dollar has being lagging compared to GBP, NZD and AUD, which could present an up-swing position.
Technical insight also...
This is entirely linked to the South African economy, having reached all-time lows against the dollar. South Africa the largest producer of Platinum has suffered significantly due to its inability to keep its lights on, this of course affects the production of platinum and the whole economy. As power cuts intensify platinum and palladium will continue to plummet.
Gold has proven it's sustainability again and again, with the Banking turmoil still on Headlines, more investors are flocking it's cash to Gold and other Metals.
Technically looking at Gold, we've been consolidating for quite some time but Bull traders broke the rang bound, a retest has occurred and Bull may be ready to take this asset to the sky again.
The sterling has gradually gained strength since its biggest lose in 2020 - 2021, however there's clear indication that rally might soon end.
Approached technically we have a strong bullish rally on our 15 min timeframe, a breach of that channel will confirm the next market cycle
Short answer to that question is Yes, Gold is currently expensive but for good reasons.
Fundamentally Gold is a great hedge for traditional stock markets when experiencing turmoil, e.i Banks.
Bonds are also under pressure and that all leads to an influx of cash to this safe haven currency.
Technically for scalpers this is a great selling opportunity right up to...
It's no brainer that Natural Gas leading indicator is Russia or shall we say Putin. I'm sure y'all heard reports of Putin sending more army into Ukraine in hopes to regain back some of the territory, this alone should be a clear message that Putin is willing to go to extensive measures to win and that's including using nuclear weapons. We can go on and on about...