Resources are in corrective mode, what will it take for the gold price to move

Gold-Eagle/Adrian Day

Repost from 10-14-2021

graphic image of lines in the sand pointing higher“The big question on gold investors’ minds, for good reason, is why gold is not higher given the unprecedented money printing and rising inflation. The second question is when will it change? To some extent, gold has simply been in a long consolidation after the extraordinary move early last year, when gold jumped over 30% from its end-March low to early-August high. That kind of move – in four months – is extraordinary for an asset that is intended as a hedge and an insurance. Gold is not supposed to do that. Bitcoin…Tesla…perhaps, but not gold!”

USAGOLD note: As of yesterday, we finally got some movement in the gold price in response to the increasing inflation rate. There is a growing sense that inflation might be more persistent than previously believed. “The longer gold meanders in its current trading range,” says long-time market analyst Adrian Day, “the faster and stronger the eventual move will be.”

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