Also this time the gold price will not go through the magical barrier of 1000 USD/oz. Almost a classical retreat to the low 900’s is coming . Our renko-charts are not positive. Neither the metal nor the mining stocks are performing well from a short term perspective.
Seasonality is pointing to a subdued market action the coming weeks. It ‘s only later in the year that the gold price normally receives a boost.
In my archive I found this chart which is averaging the price of the gold spot future over 30 years (from 1974 to 2003 to be precise) from Moore Research.
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