This Indicator is Not Yet Confirming Gold Rally
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Gold against the stock market remains weak and has a concerning technical setup. Gold must outperform the stock market to be in a real bull market as it was in the 1970s, 2000s and briefly from 2018 to 2020.
Gold can breakout amid rate cuts but if the economy is in a soft landing and not a recession, then don’t expect a sustained breakout.
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Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets. He is also the author of the 2015 book, The Coming Renewal of Gold’s Secular Bull Market which is available for free. TheDailyGold.com was recently named one of the top 50 Investment Blogs by DailyReckoning and WalletHub.
