RE:RE:Typical algorithm response
Foreign central banks have been buying gold like never before taking advantage of any Fed-speak or CPI related algorithmic sell-off and dip in price along the way, while continuing to buy the tops into daily new records.
This is not going to end anytime soon. Retail investors have still not gotten on board en-masse as they still believe the Fed lie they will corral inflation unaware the Fed has already lost the inflation fight with it inching back up.
Before mainstream investors catch on and they will absolutely and undoubtedly later on, its the foreeign central banks that have been leading the charge, and continue to, insulating themselves against any and all rising threats of financial calamity. Namely in preparation of an expectant de-dollarization that will now remain ongoing for the next few years.
Forget history and TA now. Former TA can be tracked in conjunction with past movement of the Fed and the CPI and GDP releases.
Fed anecdote is wearing thin and central banks know it. Never before have they prepared for a coming de-dollaization like now and no amount of existing TA can forstall what's coming.or be used to guage what has entered the unprecedented.
Gold will continue to rise after this mechanical driven and temporary dip and as never before as the conditions that are driving gold now have never pre-existed that TA could plot.