A Golden Surprise
The most bullish path (from a number of possibilities) has tracked this week and we have a solid new Daily and Investor Cycle high. This is by no means (yet) a sign that a new bull market has started, that type of conclusion can only be reached with consecutive higher highs at the Investor Cycle timeframe. I like how the sector has performed here, but let’s not forget that all commodities are doing well with a sharply lower dollar. And for those with short term memory issues, let’s not forget that gold has a habit of drawing in the gold bulls before unleashing another wave of selling.