Gold has rallied almost 30% from its Lows in 2018. And Silver has rallied almost 35%. Nice moves, no doubt. But are these rallies real? Will they be sustained?
Traditionally Gold rallies when the Fed prints or there is talk of the Fed printing. I also like Martin Armstrong’s view that Gold rallies when there is political uncertainty. Well, we’ve certainly had plenty of both to fuel this latest rally.
But have the Professionals bought in? Have the Amateurs been shaken out of Gold? Has inflation finally been triggered by the Central Banks? Is the political scene in real disarray? I’m not so sure.
And then there’s what the chart says …
Good luck with your Emini trading on Friday.