You've presumably made a lot of money on gold and gold investments in the last year and a half given how far gold has run up. Would you take some profits and move it into something else?
All right, let's go into some gold action here. Gold today, early in the day when yields were down and the dollar was at its lows, gold was at its highs, traded as high as 4,400.
By the end of the day, it gave back half of that gain. In fact, more than half, just up about 6%. This is all I care about on gold. This trend line at 4,300, that has to hold next week.
You still have your head and shoulders pattern here, which is a very, very important bearish pattern formation. Only bearish if it triggers with a daily close below the neckline of 4,300. Watch that closely next week.
Uh gold is back up over the 50. It's under the 200. It's got some work to do to get up this 429, but it's gold and we're in an inflationary environment. There's this all this stuff going on with Japan and um I think there's going to be a reset to the to the currency soon.
Don't know when. Uh probably after the midterms and uh and gold I think will catch a bid at that point or we you know, we'll see. Uh but right now the action is a little bit short-term constructive and a and shorter term a little bit weak on gold.
Uh but the the nice thing is there hasn't been a huge amount of selling on high volume.
