Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Gold: The Rally Consolidates and Continues
January 24, 2023 - (Gold Market Wire) - Gold's rally is continuing apace, in exactly the type of formation that says "Rally for the Longterm". It is slow and methodical; pushing up and stopping to breathe. So much better than a moonshot, which always comes crashing back down to earth.
Looking at the (very) big picture, we can see that the clearing of the horizontal market has defined a new level for Gold...the "repricing" that we talked about in our last missive.
This is a new market in its early stages...one that has room to run. We've taken on some 20% since early November - which is quite the run up.
This morning shows yet more continuation. Another gap in the making. We got it right. The market is simply repricing at a higher level.
Hang on to your hats. New all time highs are coming.