GOLD - SAFE HAVEN -
Added 2023-12-13 07:56:06 +0000 UTCGold broke above the resistance level at $2080 last week in an explosive move for Gold but did not manage to stay above this level.
If it stayed above this level, it would mean that the market was moving a lot faster than expected into a danger territory, as Gold is seen as a safe haven when the market is behaving weak.
We don't anticipate this happening until early next year....but last week's move certainly got our attention....things have subsided a bit now.
The price is in between the breakout level and the top of the ascending triangle right now....I expect this to consolidate between here and the 50/200 Day MA until the market is ready for its correction next year.
We will keep an eye out for any changes to the trend.
Comments
6-7% dividend yield.
Rene
2023-12-13 13:26:02 +0000 UTCIs $SBSW an option? they are mostly platinum palladium, but also have some gold in their mines. Stock is down 75% from ATH
Rene
2023-12-13 13:25:44 +0000 UTC
