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AAAU - Short-Term Case For Gold Weak; Long-Term Compelling
Goldman Sachs Physical Gold ETF
Back in September of last year, I wrote an article suggesting that the move higher in gold over the summer was a false one and that the price of gold should begin to move lower.
The basis of this argument was that wages were rising strong while commodities like food and energy were still going down, making fears about inflation weak.
Here is a one-year chart of gold via the SPDR Gold Trust ETF (GLD), which more or less tracks the price of gold:
After rising throughout the summer of 2019, gold prices tended to