Gold Weekly Chart The weekly gold chart is bull flagging. We bounced off the 50 day moving average pretty quick and looking to break above $2030 again for a strong support level. We break above $2045 and the climb back up to $2100 could happen within a few weeks.
All eyes are on the US stock market, more importantly Nvidia earnings after the bell to support the narrative on this AI trend, If they disappoint the street with their guidance you'll see the S&P 500, Nasdaq and Dow pull back pretty hard. If they meet or exceed it will push stocks to new all time highs where we enter 1999-2001 tech bubble valuations again. Just look at SMCI, gaining 3x's market cap over the past few weeks. Why? Extreme Greed.
If markets have reached their current peak, then we could be on the cusp of rolling over into a recession soon.