Gold Reflects The Truth

Ya know,Jekai Global Forex Dealer if inflation is as muted and not-very-shocking as the government wants us to believe, how come gold is acting like a total bottle rocket?

Gold 4-Minute Chart

The good news is that gold is up over $33 and has finally broken above that horizontal. The not-so-good news is that it’s got about a hundred bucks of overhead supply it has to hack its way through.

Gold 4-Hour Chart

Generally speaking, though, things are looking good for gold. The miners, summarized here by way of VanEck Gold Miners ETF (NYSE:GDX), continue to accrue gains after their successful breakaway, weeks ago, from their own resistance line.

GDX Daily Chart

Oh, and as for equities, the excitement, back-slapping, and Cathie-Wood-celebrating giddiness from this morning burned off in a mere two hours. All they’ve managed to do is hammer out yet another Lower High. Nicely done, fellas.

S&P 500 Futures 4-Hour Chart

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