Gold's Price Action is Telling Us Something We Dont Know YetI believe the price action is showing some hot money moving into to gold futures and physical. This hot money is from cryptos as well as algo's that have picked up on this January/February seasonality for gold. Normal market behavior and pricing rules do not apply. Last time gold price had this rapid and strong of a move without down days was 2011. Sound familiar? It should. This is the same type of tape action the DJIA and SPX have had thru 2017 in mega large caps. As they said in 2017, BTFD!
If we close above $1320 gold should run up until last years high. If we dont ge there on this up move we will get there on the next. I think we are starting to see reflexive buying behavior in gold. These past dips have reinforced the belief of buyers that the metal is going to elevate due to our higher lows in the chart.