A correction in the DX will provide Flow Info for Gold should the Peak Inflation narrative capture the mindshare short term.
Gold is on a knife's edge.
Boom boom directly ahead.
1780 to 1690 remains the lower range, with 1828 the short term pivot, with 1888 the Key level for a retest of the higher end of the short-term range.
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The COT has remained aligned against the Specs for some time, it has been largely ignored by most NextGen Goldbugs who are malinforned and susceptible to the decade long traps sprung by the usual suspects.
How many fines has JOM paid for rigging the COT over the past two decades?
Too many.... A DX turn will excite the Bugs.
"it's time to Buy" .... yeah, naw, another chase trap is all it will amount to within the Buy Zone.
Change of trend will be the new narrative - wash, rinse and repeat for the Yellow Dawg.
Gold has Zero real utility for the coming years...
Against the Monetary Base Gold has been Left for Dead, the ST Louis Fed maintains the Data.