Another Bell Rings
Gold (GLD) was on track to continue higher into a potential up-thrust … right up to yesterday.
That’s when the character of price action changed.
Action suddenly had a down day with no buoyancy. That was the clue something else is at work.
Today, we saw the result.
At this juncture, with world events picking up yet again, we probably just entered or are about to enter a deflation impulse.
The gold and mining sector continues to be chocked full of delusional bulls and rabid hyper-inflationists.
Just take a cursory look at YouTube sites that continue to ‘stack’. As repeated many times over the past year the ‘hyperinflation’ narrative is just not happening.
Food price increases along with fuel and shipping, are all related to a controlled demolition of the supply chain.
It’s not hyper-inflation.
It really does not take much research effort to figure that part out.
If there is a trade here, we’re going to leave it (not advice, not a recommendation) and just watch to see where the carnage goes.
Charts by StockCharts
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