March 20, 2023 - (Gold Market Wire) - Credit Suisse has been handed to rival UBS in a shotgun wedding, wiping out CoCo bond holders and pushing Gold higher.

The lesson for all who haven't got it by now, is that Banking Crises push Gold higher. Really not that difficult to understand. Until the banking system is stabilized, Gold will continue to move higher. If the banking system never stabilizes, and instead lurches from crisis to crisis....Gold will become the pre-emminent asset... Until its "outlawed"... which is tough to do in practice.

As a trade, Gold will have to settle through the up channel to keep going. In our previous missive we identified up channel markers as places to take profit. So we should take some off the table here. The crazier things get, the more discipline you will need. That's going to mean buying draw backs (yes they will happen) and selling a 1/3 to 1/2 on the move to channel tops. Above all - avoid chasing the markets, and never use leverage...or you'll wind up in that special camp of amatuers who lose money in bull markets. Lastly - hold the core position for dear life, and don't touch it - no matter how precipitous the drops get.

Good luck.