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Bullish Signal As Gold And Silver Ignore Bad News

Published 01/20/2022, 12:05 AM
Updated 07/09/2023, 06:31 AM
XAU/USD
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GC
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Real yields have broken out to a new 52-week high. The market has priced in 4 rate hikes in 2022. Long-term yields have risen. The dollar is near its recent high. All of this and Gold has held strong and pushed higher. It is very bullish when a market ignores bad news.

The key technical level for Gold is trendline resistance at $1850-$1855. Then you have weekly, monthly and quarterly resistance at $1900. The initial risk is Gold gives back this gain and loses $1830 by the end of the week. If not, and Gold breaks past $1850-$1855 then it could rise as high as $1900 during this move.

Latest comments

Real interest rate to me is (10 year Yield - inflation)... If you do that, you will see real interest rates are less than -5%. And that my friends is ultra bullish for gold...
sure. ultra bullish. for 18 months it was the same and now with the rising yields it rally looks ultra bullish.wait for it!
Would be nice to see your charts supporting this
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