GOLD 2020-AUG-20
Gold has bulled back in recent days, with the latest drop coming on the back of news out of The Fed - we should print more money. Nothing in the world says irrational like gold prices dropping on the sounds of the printers warming back up.
Blue lines represent +/- 4 deviations from the middle of the channel.
Reality here, in my opinion, is that money has been flowing into anything - and everything - that could even be remotely considered a value add. Now that The Fed is suggesting more purchases are on the way - opportunistic traders are exiting gold for new opportunities.
The DXY adjusted gold chart support the theory that a large portion of this latest move was reactionary to DXY volatilities.
Blue lines represent +/- 4 deviations from the middle of the channel.
Reality here, in my opinion, is that money has been flowing into anything - and everything - that could even be remotely considered a value add. Now that The Fed is suggesting more purchases are on the way - opportunistic traders are exiting gold for new opportunities.
The DXY adjusted gold chart support the theory that a large portion of this latest move was reactionary to DXY volatilities.
