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Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Gold Makes a Move out of the East
December 5, 2022 - (Gold Market Wire) - Gold is breaking out from the horizontal challenge that we identified in our last missive. If it holds, it would be hard to see it as anything but a positive omen.
Last time we got up here we re-traced hard... as in all the way down to $1625. But this time the market has a tailwind. If we can hold into the close we could be clear for Christmas rally. It's looking more likely that an intermediate bottom is in. Still on the sidelines and cultivating patience, but the bullish case is being built. We don't seek to get every twist and turn - just an odds on set up to "take something out of the middle and go home," as the General says.