Gold is struggling

[tsptalk]

Struggling to stay above its key moving averages, and it's looking like a big head and shoulders pattern.

 

[Bullitt]

GLD literally in the same spot as previous post. Where's the inflation hedge?

Really a technical mess here as the handle / bull flag just keeps going down at that 30% angle just as it did from 2013-2016 before going sideways until 2020.

 

[tsptalk]

Gold is a hedge against inflation? Says who?

Something is very wrong here.

 

[Valkyrie]

https://www.kitco.com/news/2022-09-...r-low-by-economic-worries-bearish-charts.html

The precious metals are being hit by global economic worries that threaten to dent commercial and consumer demand for raw commodities, including the metals.

 

[coolhand]

It's called price control, plain and simple. Others call it manipulation. The bankers don't want us using anything but their fiat currency (backed by the power and closed fist of the government). But it goes way beyond PM. Everything is pretty much controlled on some level.

 

[coolhand]

Bill Holter is very well known in PM circles.

https://youtu.be/nbQjX-Fn1Rw

 

[Bullitt]

Gold bugs finally having their day with a multi-year cup and handle breakout to the upside. Good on all those who stuck with it.

It's a hard asset, unlike bitcoin. Seriously considering unloading my bitcoin and buying a few oz. of something I can hold in my hand.

 

[tsptalk]

There's quite the disconnect between gold and gold miner stocks since COVID.