Update on Gold: Feb 20, 2019

In our December 26 Update, we noted that gold had broken out of a rising channel and was headed for several upside targets including 1292.10, 1346.30 and 1369.40.  Yesterday, it reached the 1346.30 target — a nice 14.7% rally since our Aug 15 bottom call at 1173.60.Interestingly, its latest spike has coincided with continued strength in DXY — an unusual but not illogical occurrence.We’ll take a look at why this is happening, and what’s ahead for gold.  Is it’s strength a warning, as some have suggested?

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