Options Hotline Update, FYI: Our recommended call on Barrick Gold Corporation (GOLD) trades +131% in 3 days, on a 12% move in the underlying shares, with an always known and strictly limited risk.
Market moves accelerated following a friendly Fed statement. Falling Treasury bond yields are weighing on the US dollar. This is helping boost stock prices and it benefits gold, as well.
The Midas metal is affirming its position as a store of value, especially in times of heightened geopolitical tensions.
Former resistance (supply) now represents support (demand). As you can see on my daily candlestick chart below, buyers are consistently closing the day above the opening price (generating a red main body on a candle line). This shows buyers stronger than sellers. Overall, the juice behind gold’s move forecasts the likelihood of higher prices down the road.
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