Today, gold is still a critical form of money. As
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Posted On: 07/26/2021 9:42:48 AM
Today, gold is still a critical form of money. As you can see, its price has again decoupled from the negative-yielding 10-yr bond, a pattern that we also saw in December 2020, before gold crashed.
It seems traders are waiting for confirmation of either a breakout or a meltdown, so I want to show once more the importance of what the dollar is doing. My goal is to determine whether or not gold is headed to $2,024, as the chart above suggests, or if it will fail at catching up to real yields and fall, while they rise.
The DXY sits at 92.9, well above the 90.00 support, which it tested twice:
Courtesy: Tradingview.com
If the DXY index nears 90.00 for the third time, the probability that it would break below it is between 75% and 85%; in technical analysis, these are nearly sure bets.
If you're waiting for the right time to accumulate, following the DXY index is crucial.
In Colorado, the deer attempt to cross the roads at the best times – when the coast is clear – and in the markets, traders should do the same; confirmation of dollar weakness would be gold's ultimate buy signal.
Best Regards,
Lior Gantz
President, WealthResearchGroup.com
Please read our full disclaimer at WealthResearchGroup.com/disclaimer
Copyright © 2021 Wealth Research Group, All rights reserved.
You're receiving this email because you opted in on our website.
It seems traders are waiting for confirmation of either a breakout or a meltdown, so I want to show once more the importance of what the dollar is doing. My goal is to determine whether or not gold is headed to $2,024, as the chart above suggests, or if it will fail at catching up to real yields and fall, while they rise.
The DXY sits at 92.9, well above the 90.00 support, which it tested twice:
Courtesy: Tradingview.com
If the DXY index nears 90.00 for the third time, the probability that it would break below it is between 75% and 85%; in technical analysis, these are nearly sure bets.
If you're waiting for the right time to accumulate, following the DXY index is crucial.
In Colorado, the deer attempt to cross the roads at the best times – when the coast is clear – and in the markets, traders should do the same; confirmation of dollar weakness would be gold's ultimate buy signal.
Best Regards,
Lior Gantz
President, WealthResearchGroup.com
Please read our full disclaimer at WealthResearchGroup.com/disclaimer
Copyright © 2021 Wealth Research Group, All rights reserved.
You're receiving this email because you opted in on our website.
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