Overlaying the charts can help one find patterns or test purported myths that Wall Street and media sources love to sell. This chart helps investors derive one’s own conclusion, without a media bias.
The second chart is simply the YTD of spot gold. The chart is rather bearish, with all of its moving averages above it and sloping down. On the other hand, before everyone gets all bearish in the short term, the dollar index looks like it got rejected from the $83.5 level, which may support the gold story.
All things considered, gold is a very controversial asset. The fundamental story of the Fed and other central banks printing billions a month supports the story, but price has said other things as of late. Bull or bear, one should always keep a keen eye on the charts.
