- According to my Gold True Fundamentals Model (GTFM), the gold market’s fundamentals were bullish or trending positively from early November of 2019 through to late September of 2020 and were bearish or trending negatively from early October of 2020 through to late October of this year.
- On an intermediate-term (3-18-month) basis, there is a strong tendency for the US$ gold price to trend in the opposite direction to confidence in the US financial system and economy.
- Upward corrections can occur in the face of bearish fundamentals, and downward corrections can occur in the face of bullish fundamentals.
For further details see:
The Status Of Gold's 'True Fundamentals'