Loading ...Also by the way, at the bottom, Gareth Soloway, changed is bearish view today, stating Gold is in a bullish consolidation
Re Gold, My Opinion? The Choppy Lateral Correction, That Started August 20, Has Ended Today
You can see a double bottom with support at $2,500.
https://finviz.com/futures_charts.ashx?t=METALS&p=d
Besides that, lots of things are a LOT cheaper, like heating oil and gasoline.
https://finviz.com/futures_charts.ashx?t=ENERGY&p=d
Here you can see a lot of things cheaper the past three months.
https://finviz.com/futures_performance.ashx?v=14
Down here you can see the indices having a bad day, that took Gold down in sympathy, that I think ended our correction and we should break above $2600 soon.
https://finviz.com/futures_charts.ashx?t=INDICES&p=d
P.S. If you think about it, the Fed’s first fear was deflation. Which would show mismanagement of the Fed Note system, which also will drive gold higher. Gold is money. And in a deflation, money or Gold, gains value.
By the way, I’m going against Garreth Soloway who thinks gold will drop. Scroll to the right to the 20 minute 30 seconds to hear his opinion.