A quick look at Gold

It seems no one wanted it US$1,670 – $US1710 (see the oversold circles in the chart below).

US$200 later……now I’m hearing a little chatter about it,
last night it broke above a trendline,
probability increases of a test to US$1,958 – US$1,972 region,
at that stage, we should hear a little more about Gold in the media,
that should send it up to test last year’s high of US$2,075.

Two things to watch;
a) the rising mainstream interest in Gold and
b) whether 10 year bond yields break above 1.75%

May 18, 2021
by Rob Zdravevski
rob@karriasset.com