2020 strikes again

Last week, gold bounced back after testing previous lows. It climbed back above the $1,900-per-ounce level, closing the week at $1,907.60 per ounce (see the following chart). With the U.S. presidential election just five weeks away, another unexpected development hit...

Is the U.S. dollar heading for a crash?

Gold broke out of its price consolidation pattern last week. However, instead of continuing the previous uptrend, it closed down for the week at $1,866.30 per ounce, testing the previous low of the formation set back in August (see the following chart). This decline...

Gold and politics

Last week, we noted that gold’s price consolidation had completed a “pennant” formation. The formation extended into an even tighter consolidation last week, as gold closed at $1,962.10 per ounce (see the following chart). Since this pattern usually precedes a...

Dollar woes

Gold closed last week at $1,947.90 per ounce. The consolidation of the price of gold has now completed a “pennant” formation (shown on the following daily chart). This pennant pattern usually precedes a breakout in the direction of the previous trend—which, in this...

Increased inflation could be good for gold

Gold continued to consolidate around $1,950.00 per ounce last week, closing at $1,934.30 per ounce on Friday. This extended consolidation pattern provides a buying opportunity in the current gold bull market. After consideration of the Federal Reserve’s change of...