Hello everyone! Today I want to share some news about gold and currencies with you.
$XGD /$XAUAUD - ASX all ords #gold index could be bottoming against spot priced in AUD. A b/o of the orange resistance would indicate fund flow returning to the sector as investors look for leveraged exposure to the underlying commodity (multiples expansion for equities). $USD/XAU(USDXAU.FOREX)$
$Barrick Gold Corp(GOLD)$ weekly 'battle of the arcs' setup:
- TA swinging bullish
- Equities underowned, negative sentiment + frustration, now catching a bid
- on-market director buying + BBs e.g. $($NST)$ $($300M)$
-$($DXY)$ monthly OB + rejecting bear arc adds tailwind
-#silver space similar to #gold
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