One hell of a head fake on gold

MishTalk/Mish Shedlock/7-31-2023

image of 500 gram gold bar with chart in background“Gold has big daily drop following Fed and ECB announcements. The pullback lasted 2 days before a big blast higher. In the wake of fluff announcements by the Fed and ECB in which no reporters asked any difficult questions, gold took a mini-dump then surged twice as much two days later.”

USAGOLD note: Mish posts a thumbnail analysis of the current gold market and concludes: “If you have faith in central banks, sell your gold. Otherwise, I suggest hanging onto it.” Worth a visit……

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