OTCPK:KRCLF - Post by User
Post by
cleareyeon May 31, 2023 9:33am
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Post# 35472108
Forgetting the noise - gold breaks month-long downtrend.
Forgetting the noise - gold breaks month-long downtrend.There is a huge amount of noise in the gold space.
Gold prices are going up and the gold mining stocks are almost all going down. Potential investors are listening to the noise.
But, forgetting the noise, the price of gold has broken a month-long downtrend. It happened yesterday and today the price of gold is moving higher so far, providing some confirmation, ignoring the noise.
It's interesting. If the American's vote for their debt-ceiling deal, most pundits will think that the price of gold will drop and continue its downward path. It will have a "chart" to deal with. If the FED raises rates again, the pundits will think that the price of gold will drop and continue a downward path. Gold price will have a "chart" to deal with.
I tend to think that if you look past the noise, the money and debt issue is bound to drive the price of gold up. I wonder at what point of time the gold-miner shorts will have to cover, or conversely, at what point in time the price of gold will be driven back down past some support levels that are building.
We'll see how it turns out,
cleareye.