Gold Strong But Miners Weak

In this week we saw gold put in a stellar performance however the gold miners have weakened which would be quite frustrating for the gold bugs, but looking at the chart we see why, gold is overbought on the daily timeframe and due for a half cycle high. We can expect it to pullback from here, key would be that price is able to be supported by the 200DMA then challenge the all-time highs. This is not an ideal place to short gold as the weekly chart still has enough fuel, those holder miners are best to not be frustrated out of their holdings.