Posted Apr 9, 15:33

A Glimmer for Gold: Double Top or Bottom?

A Glimmer for Gold: Double Top or Bottom? Chart
Apr 09: 

Thursday's gold rally to $1758 triggered cheers of a doube-bottom rally, but today's pullback to $1730 raised familiar fears of a double top. US persisted on the upside after a brief interruption from a jump in yields when US PPI posted its biggest jump since Sept 2011 (God's previous peak). Canada jobs reports surprised on the upside (as did all other major G7 emloyment reports recently). CAD is the strongest of the day, while USD broadly lower on the week. We look further at the yellow metal ahead of next week's high profile events (US CPI, JPM & Goldman earnings and treasury bond auctions). 

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PREMIUM INSIGHTS Update: Jan 8, 19:20
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