The US dollar has fallen rather sharply over the past year or so, despite ongoing Fed rate hikes. This persistent dollar weakness has really boosted gold.
The fear, anxiety, and apathy still plaguing gold lies in the psychology of gold’s two primary driving forces, futures speculators and stock investors.
Since Trump’s election, stock markets rocketed. This extreme rally has left stocks exceedingly overvalued and overbought. A major selloff is long overdue.
Entire precious-metals sector has been left for dead, eclipsed by dazzling Trumphoria stock-market rally, but traders need to keep eyes on fundamental ball.