All ideas being equal then even with the noise that there could be a big retraction for gold in the second half of the year, it seems that early August will be its ‘D Day’ on which direction it chooses.
Looking at the long term monthly charts a retraction towards 2700 could be on the cards should a bearish scenario begin to take over- likely??? Who knows? This could be healthy for the precious metal before an ever greater push higher.
That said, bulls could decide that they have had enough, step in and send gold onto new ATH. With the current interest in altcoins, crypto is stealing focus, however this safe haven can never be discounted.
Watch this space!
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