Wall Street undecided on gold’s near-term trajectory, Main Street flirts with bearish bias after gold hits $4,200/oz ceiling - Kitco
Wall Street undecided on gold’s near-term trajectory, Main Street flirts with bearish bias after gold hits $4,200/oz ceiling - Kitco
Source: Kitco
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DW NOTE
Main Street turning bearish after gold hits a ceiling is what happens when retail buys late and professionals exit early. Wall Street's indecision is posturing — gold is down 21.4% from its January high of $5,318, sitting at $4,183 with the Hormuz strait still closed and oil up 70% year-over-year. If that can't hold $4,200, the conviction wasn't there to begin with.