Chart alert: Gold major bullish breakout as USD debasement narrative takes hold - marketpulse.com

Chart alert: Gold major bullish breakout as USD debasement narrative takes hold - marketpulse.com

Source: marketpulse.com

DW NOTE

Gold is down 14.5% from its January high of $5,318. If that's a major bullish breakout, the word "bullish" has lost all meaning. The metal remains a haven trade in a world where the Strait of Hormuz has been closed for 174 days and US fiscal deficits run at 6% of GDP — but that's not a breakout, that's a drawdown with geopolitical support.

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