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Will Gold Reverse again?

Act Exp Prev GMT
China Flag Consumer Prce Index (y/y)
2.1% 2.2% 2.3% Jan 10 1:30

Gold bulls may be exhaling again, while gold bears are silent. Gold and silver enter their 3rd consecutive weekly gain, the longest winning streak since the 3-week rally of Oct-Nov was brought to a violent reversal following Donald Trump's election victory. Some say the metals rally is part of a much needed corrective pullback in USD and bond yields, coinciding with the repositioning ahead of Trump's Wednesday press conference, which will shed more light on fiscal policy and trade policy. Gold and silver bulls are encouraged by the broad improvement in inflation metrics such as US average earnings and rising CPI/PPI in China, UK Canada and even the Eurozone.

But take a look at gold miners, with HUI index entering its 4th weekly gain, testing its 200-week moving average and is on the cusp of a rare golden cross as the 55-WMA crosses above the 200-WMA for the first time since 2012. The last time HUI's 55-200 golden cross took place, HUI rallied 51% (from Sep 2009 to Sep 2011). Will metals survive another fresh run-up in bond yields as Fed speakers respond to higher inflation? Will Donald Trump's fiscal stimulus promises be offset by confrontational international trade policies? Does any of this matter if stocks rise and miners push along with them?  All of this is tackled in our latest Premium video, with the implications for XAUUSD, XAGUSD and HUI.

Gold & Silver: Fake or Real? Can USD & Gold Rse in Tandem? Gold Bullion or Miners? - Premium Video (Subscription Required)

 

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