Over the past couple of weeks, poor old gold has been trying to get up off the mat. It’s actually meeting with a bit of subtle success (see green tints), as a series of higher lows is being formed. Its more vital attempts to get higher, particularly overnight, keep getting smacked down (red arrows), as $1145 seems to be an important barrier. Considering how much is going against gold right now, it’s behaving decently, and I’m certainly keeping my fingers crossed that it can find the buying power to hurdle over that 1145 line, which should make its recovery easier.
