What's The Story With Gold?

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Publication Date/Time: Thursday, 23 July at 21h24 (South African Time)

What's The Story With Gold? Following a multi-week base, Gold attempted to rally (on Wednesday) but failed to follow through on the upside, having been capped by (1) the declining 21-day EMA but also by (2) the 8-day EMA continuing to trade below the 21-day EMA. Above and beyond gold on an absolute basis, it's higher yields globally that appears to be capping any meaningful advance. See our notes on yields here > https://www.unum.capital/post/us10bondyield2207

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Previous Post: Spot Gold: Where To Buy / A History of Flushes

Published on Saturday 18 July, for Monday, 20 July.

Bottom Line: Gold recent history of price flushes created opportunities to buy. With lower highs and weekly close at the lows, a flush below support may create an opportunity to accumulate on significant weakness. The provisional range is show on the chart below. This level is also in line with the lower boundary of the channel support.

Lester Davids

Senior Investment Analyst: Unum Capital