Encouragingly gold has largely held steady while bond yields and the $US rallied, this is a bullish sign i.e. a market that doesn’t fall on bad news is a strong market. If the ducks can align with the $US and bond yields then gold looks poised for a strong rally. Rising inflation is often touted as a tailwind for gold but that’s clearly not been the case over the last 12-months.
MM is bullish gold over the months ahead
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