Gold’s direction is tied to Fed, strong bullish momentum tied to technical studies - KITCO
Gold’s direction is tied to Fed, strong bullish momentum tied to technical studies - KITCO
Source: KITCO
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DW NOTE
Gold has rallied 11% in a month and the Fed hasn't moved rates since August. Kitco's headline attributes the move to Fed expectations and "technical studies" — a way of saying the chart looks good without explaining why $350 billion moved into the metal. The Strait of Hormuz has been under US blockade for 119 days, real yields are rising, and gold is still 16.6% below its January high. None of that is a technical study.