Gold, Still Boring

Gold has retreated further ... treasury yields above 3% and firming dollar. But even when this isn't happening, nothing seems to be able to budge gold much. 

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1 hour ago, TraderTate said:

Gold has retreated further ... treasury yields above 3% and firming dollar. But even when this isn't happening, nothing seems to be able to budge gold much. 

Image result for bored yawn filing nails

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In a different part of cyberspace to an oil website, I used to post a lot about gold. It definitely got boring after its price fell off a cliff, but I started posting again at the beginning of this year.  In AUD terms it today breached $2000 for the first time ever.

Price of Gold

In US dollar terms it decisively broke through long term resistance of $1350.

Price of Gold

Let's see where momentum takes it from here.

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