Gold Volatile but Still in Support

Source: Barry Dawes 06/06/2024

Barry Dawes of Martin Place Securities takes a look at the current state of the gold market to explain where he believes it is headed.

Gold is still holding in ascending triangle.

Gold stocks are consolidating.

T Bond yields sharply lower.

Gold

• Back into the ascending triangle

Gold Stocks

• Consolidating

ASX Gold Stocks

• Holding in Symmetry box

Gold is providing some tricks in volatility, but the trend is still up.

If gold rises from here, then that retest of US$2450 could be sharp.

Bond yields fell sharply again and should head much lower.

Gold Stocks

A lot of volatility here, too, showing nervousness in the markets.

Bonds

Yields are sharply lower after that reversal last week.

Much lower yields are likely now.

Lower yields are coming here.

Head the markets, not the commentators.

[SECTORCOS-1]

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