Gold price (futures)

The nominal gold price is slithering along the moving averages

Gold is trying to take out the daily chart SMA 50 & 200. Trying being the operative word because this gold futures contract is lagging other global gold indicators. When gold makes a positive move sooner or later, the bull gateway will come heavily back into play. Here we also recall that this entire chart is only part of a ‘Handle’ to the monthly chart’s bullish Cup.

Meanwhile anecdotally, gold bulls the world over are wondering why gold did not move with inflation. Perfect.

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