January 28, 2025 - (Gold Market Wire) - We advised to lighten up or close out as we got near the channel top, and sure enough, the horizontal from the previous high was the place to sell. No complicated charts, no endless mathematic formula - - just some basic trading sense. If you didn't take profit on the way towards the horizontal marker - you need to find a new way to speculate in the market. Rarely does the market make it this easy.

So, $2785.50, three times. That sounds kind of ominous, and, given the chance for further US Dollar strength, we are, from the trading side, out of the market. Truth be told, we're a bit concerned about that potential triple-top...but a little European banking crisis should assuage those worries.

Core remains unchanged. Long Dollar and Long Gold, as it has been for over a decade now. We maintain the shift to a leveraged Dollar Long/Euro+£ short. However, Mr. Market never makes it easy. We remain concerned by Trump's attempts to talk the US Dollar down. This is the real reason behind the stock market trimming yesterday. In short - 1987 redux. The question now emerges - yes, Trump is an "inflationista" .... but a deliberate lowering of the US Dollar? Against what, we might ask.

The obvious answer is: Gold.

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Trading position: Flat

Outlook: Looking to re-load length from a lower point, and keeping a very cautious eye on the US Dollar for signs of weakness.