2024-02-23 11:25:11 ET
Summary
- Gold is currently trading at a crucial spot, with high potential for a breakout higher.
- Gold has been building a huge multi-year base for almost 4 years, and looks primed for an attempt to push above $2,100.
- A key component to the gold bull thesis is a weakening USD, which is starting to materialise on the technical charts.
- From a macro standpoint, the Fed has eased its rate hike programme. Also, famed contrarian Stan Druckenmiller has swapped his Big Tech holdings for long gold positions.
Gold ( XAUUSD:CUR ) ( GLD ) is currently trading at a crucial spot right now, with high potential for an explosive breakout higher....
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For further details see:
Gold And Miners At Key Breakout Level (Technical Analysis)