The big question is should gold investors be worried if the stock market rallies?
Traders with aggressive shorts should not wait for prices to move below the $14 level.
Gold has lately outperformed most safe haven assets including Yen, Franc & US Treasuries.
Gold’s intermediate trend is negative, as gold is trading below its 200-day moving average.
The Russian Central Bank for six consecutive years has bought gold as it continues to diversify away from US dollars.
Gold saw strong performance in January 2019, but witnessed profit booking in February.
Gold has fallen to $1,314 from $1,332 but there is room for more correction.
Silver prices are walking a fine line between favourable and unfavourable circumstances.
Once the US Federal Reserve ends the tightening cycle, the time to buy gold will be near.
JP Morgan says there is 60% chance of recession in the US in 2020 and 80% by 2021.
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