Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Opening
Gold's Stalls as Showdoom Looms
January 26, 2021 - (Gold Market Wire) - Gold is stalling out below the 50-day moving average and needs to get a move on soon if it is going to prevent another sell-off. Right now we are heading towards a show down at the end of the week, defined by our short-term uptrend and our longer term down-trend. A straight "odds on" examination, one would have to give the nod to the Bears. They have both the 50-day moving average and a consolidating Dollar rally at their back. The chart lays out Gold's dilemma.
![](https://assets-global.website-files.com/5d754afa7a6dfa49fd253976/600fbdc6cb02990922700ab5_Screen%20Shot%202021-01-26%20at%207.53.54%20AM.png)
We can't help but surmise that the Gold market wants to wait for the US Dollar to resolve itself before making a move. If so, that makes for a dangerous state for the Gold Bulls. As the EUR/USD gets ready to challenge the 50-day moving average, the Dollar looks to be building strength - much to the consternation of the chattering classes who have been screaming about the Dollar's demise for years, and, especially, in the past three months. It isn't happening - no matter how much they want it to! The unison of that echoing chorus should be enough, alone, to indicate that they are most likely wrong.
![](https://assets-global.website-files.com/5d754afa7a6dfa49fd253976/600fbf98b0c66b50709882d7_Screen%20Shot%202021-01-26%20at%208.03.47%20AM.png)
No one is bigger than the market. Ever.