Thought We Were Goin to .30's Anyway! BIG ? IS WHERE TO NEXT Post by crazytimes on Dec 01, 2023 4:53pm One Possible Logic to Undervalued Gold Stocks.....
If you look at the daily gold chart you can see that the last two times we reached this level gold sold off considerably afterwards. It is possible that many big traders are using the rally in gold right now to sell into strength as they anticipate another simillar gold selloff. I think either gold will have to dramatically break out, or at the very least hold these levels for a few months so that earnings begin to reflect gold well above $2000 before the big money will really start to commit! Right now unfortunately it seems like the sellers and the shorts are playing us like a yo yo with total confidence. Honestly wouldn't be surprised to see all the gold equities sell off next week dropping us back in the .30's if gold were to just fall back to $2035. Just my opinion.