Loading ...Those are my views also. Below a post from late June. Spot had dipped below $1900. The Fed would have to raise rates a lot higher to kill gold, and even that may not work for them. Strange thing I noticed recently spot gold on tv keeps showing spot gold about $20 higher than spot gold on dealer’s web sites. APMEX shows spot at $1917 with spot at $1935 in Finfiz.
@Alex re Did we see the bottom for Gold this morning? Yes
The bottom should have been done in early June not late June. I called the bottom at $1600 in September. And today, I’m calling another Bottom at the $1900 low on June 29 2023.
https://finviz.com/futures_charts.ashx?t=GC&p=d
Besides all that interest rates are jumping up today (bonds dropping) 10 yr bond rate is up 4% at 3.85%.
https://finviz.com/futures_charts.ashx?t=BONDS&p=d
Plus the US Dopey/Dollar has been climbing all week.