Looking for a Sign Gold Has Bottomed? I Have One.
Today's action is different. And different is good.
Source: Mish Talk
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DW NOTE
Gold is down 23% from its January high of $5,318, currently at $4,096. The Hormuz closure, continued Ukraine escalation, and 8 million barrels per day of lost oil supply haven't stopped the slide. If Mish sees a reversal signal in today's price action, he's looking at something structural in positioning or flows — not the headlines, which have been screaming buy for months while the metal kept falling.