Asset Watch
Thursday, December 29, 2022
Yet, a similar pattern is present on the right side of the chart. Recently, gold has been glued to its 200-day MA, as the bulls keep the price elevated, while the bears attempt to tear it down. In addition, U.S. nominal and real (inflation-adjusted) interest rates have risen materially in December, which helps explain the yellow metal’s recent indecision.
So, with the fundamental backdrop increasingly cloudy, should you remain bullish as long as gold exceeds the 200-day MA, and turn bearish if a breakdown occurs?