And here’s a thought The fed has been providing bridge loan to equities (junk bonds) which should have been bankrupt for 8 weeks to the tune of 2.7 billion per minute... I think next week that falls to 608 million per minute. Which could bump us up here.
Maybe the price of gold will trade sideways until they take a second dip into a bailout package. For now it's status quo as every Monday for the next few weeks there will be a rally on the 'new vaccine' and by Wednesday gold regains and trades up for Thursday/Friday when everyone realizes that 30 million people are out of a job.
When they inject a real 3T stimulus package we should see a sustained rally into the 1800s and not the fake one pelosi pretended to try and pass through the house which sent the POG up to 1770 last week just on 'speculation that another package is coming'. The real thing will really take the wind out of the sails for the shorts.