When I like to look at the markets YES I like to follow the fundamentals of course but sometimes the fundamentals don't marry up and that is why price should tell you what to do.

As you can see GOLD retraced to that 61.8% of the fibonacci level around 1677 mark and has pretty much recovered nicely to the 23.60% mark. 

Now could GOLD be a bit toppish potentially but again let the market tell you what to do. 

I am still bullish on GOLD atlhough the current time is to hold and wait for a clear trading signal or an economic data to change.

A good signal the bulls have returned is if that 50EMA (RED) cross the 200EMA (GREEN).

Gold - Your best friend around inflation

Jun 15 2021

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