Revival! Gold Is Rallying In Part To Never-ending Fed Stimulus (Rate Increases On Hold Until After 2023)

by confoundedinterest17

Gold’s rally is showing signs of a revival.

The spot metal has posted two straight weekly gains, and at least one technical signal is pointing to further increases. Bullion’s moving average convergence-divergence indicator, a gauge of price momentum, crossed above the so-called signal line last week for the first time since early August in a bullish sign for traders who follow price patterns.

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Of course, never ending juice from The Federal Reserve is helping.

And the juice isn’t going away until after 2023 (according to the Fed Dots plot).

Its a shame for the people of Venezuela that they can’t pump gold instead of oil given that their 9.25% sovereign bond has fallen from over $100 in 2013 to $9.28 today.

 

 

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