Another Illusion Dispelled: The GOLD Market Is Going . . . DOWN
Many People Have Been Deluded By GOLD's Shine
The Institutions Are Selling GOLD. The Public is Buying!
GOLD has become a political tool or crutch over the years and, that's a mistake.
Instead of trying to 'understand' this commodity or the 'reasons' why it 'must' go up in price, confine yourself to the Truth of the Price Chart which will wake you from that Dream immediately. Note the WEEKLY price chart for GOLD above. The Trend is Clear:
Gold's Been Going DOWN, Not Up for Months Now.
Those with the proper tools and an open mind (which ALL traders need for success!), noted the shift starting back in September of 2020.
GOLD is another of those basic, popular markets that is widely followed. Most people are permanent 'Bulls' and treat Gold as an insurance policy again a currency decline.
However, as we noted in our last posting, the US DOLLAR has now shifted upwards in price trend. This decline in the GOLD Market can be viewed as a confirmation of that assessment, so, the insurance angle is a moot reason to hold Gold under these circumstances in my opinion. As always, Change is the Name of the Game.
Let these Changes Work FOR You: George