Tackle Today: Gold Makes a Move | Tackle Trading: The #1 rated trading education platform

Tackle Today: Gold Makes a Move

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«Higher for Longer?»

Coach Mark here.

Gold is making another upward move pre-market after its best week last week in seven months. The concerns over the war escalating into an oil producing country and the Fed making a dovish pivot have certainly helped fuel the recent move up in gold. Geo-political tensions between China and the United States escalating with a recent ban on additional chips in the United States effort to keep advanced chips out of China will not hurt the already strong bid that gold is experiencing.

Is this another strong move that will give back its gains in the coming months or is it the start of the next “leg up?” Gold made strong moves after Russia’s invasion of Ukraine in 2022 only to give back those gains in the following months. Similarly, gold made another strong move following the banking crisis in March only to meet a similar fate. Is that we have in store this time around?

One of the key differences between this situation and the previous two mentioned is where we are in the tightening cycle. In 2022 The Fed was just beginning what would end up being a torrid increase in interest rates over the next year. In March, “higher for longer” was still the mantra and the Fed was not yet done. This time around the Fed appears to have completed their raising of interest rates and we are at the end of the cycle.

What was previously a headwind for gold now serves as a potential tailwind…or at a minimum not an obstacle. Higher for longer may be in play still, not for The Fed, but for gold prices instead.

 



Gold (/GC)

111 1

A clear breakout of short-term resistance has gold eyeing 2000 as we hit the mid-point of the week.

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