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NEM Rising channel, heading to 2 week high of $68.88. Newmont is the world largest gold producer and ready to hit 52 week highs. The gold miners have lagged GC futures and GLD etf. Barrick gold is the 2nd largest producer and has a perfect ascending triangle. With FOMC july 30th, I expect these to breakout before and I would take some profits before known event....
GOLD, MCD, AEP, CAG, CMS, D, DUK, ED, ES, NEM, NOC, PPL, SO
A series of better than expected numbers has caused interest rates to rise in a soft inflationary environment this equals higher real yields and a negative headwind for Gold at least short term.
Was I right or wrong? let's see
Weeks after, I want to share with you, guys, if my predictions were correct or not. Outcome is brilliant. Have a look. Thank you guys, Let's stay updated Simone