Gold Reflects The Truth
2022.04.12 18:56
Ya know, 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 . Nicely done, fellas.
S&P 500 Futures 4-Hour Chart
