February 21, 2024 - (Gold Market Wire) - Gold has had 5 straight sessions in the Green, and is now coming up to the resistance level.

Our spec got us out early, because the power downtrend loomed. That has fallen, but now we are up against the main downtrend. We won't chase strength here, but we await the outcome. We remain impressed that with an equity sell-off and recent US Dollar strength, Gold has seen fit to rally: but so far, it is a mere storm in a tea cup. A proper stock market reversal could derail the rally in short order.

We still think there could be one more sell-off before the rally, but if we are wrong in that assumption, we will have plenty of time to re-join the fray. As for now, patience and discipline... on the sidelines.

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