Gold seems not to touch the emas anytime soon, offering no "cheap" buy-in opportunity.
However, with phyiscal gold getting rare, it could get sought after soon enough (mines shutting down is also a "plus").
In 2008 bottom, gold rallied after ema touch - but the s&p did aswell.
This year we might not have seen the bottom of the index, yet.
Most interessting for gold is, that I havent seen another asset yet, that didnt went under long term ema, but actually rallied.
The dip could be explained through margin call refinancing and general fear - food is more valuable than money, period.
Im definetelly long on gold and would just use it as inflation proof store for liquidity yet, rather than speculating much with it.
Nonetheless I highly appreciate your opinion on the matter, as Im rather new to gold as an instrument.
Trade save and keep diamond_handz!
However, with phyiscal gold getting rare, it could get sought after soon enough (mines shutting down is also a "plus").
In 2008 bottom, gold rallied after ema touch - but the s&p did aswell.
This year we might not have seen the bottom of the index, yet.
Most interessting for gold is, that I havent seen another asset yet, that didnt went under long term ema, but actually rallied.
The dip could be explained through margin call refinancing and general fear - food is more valuable than money, period.
Im definetelly long on gold and would just use it as inflation proof store for liquidity yet, rather than speculating much with it.
Nonetheless I highly appreciate your opinion on the matter, as Im rather new to gold as an instrument.
Trade save and keep diamond_handz!