Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Gold Wakes Up!
June 2, 2022 - (Gold Market Wire) - Three months of working lower, the vast majority of which was nothing short of a snooze fest, and now, finally a chart move which, hope upon hope, might actually lead somewhere. We dropped the whole position to focus on Oil and Wheat, many weeks ago, and thank goodness for that. More paint-drying sessions is not what we needed to engage in, when the energy markets are on fire.
Our plan to buy small at $1800 got shelved, because, honestly, the thought of having to watch Gold do "Sweet F.A." - just wasn't compelling. But now, we may have something to bring some interest back at last. Yes, we could have bought the $1800s on discipline and then spent weeks charting our daily crumbs of success... but there are only so many markets you can really grasp firmly, when the commodity complex soars. Time management - Gold wasn't worth it.
Now we have to re-look.
Well, that's the kind of Bull Flag we can find an interest in. We'll be prepared to buy if we get some re-tracement.