HSBC analysts remain bullish in the longer term. "There remains a decent long-term investment case for gold, particularly amid ongoing global de-dollarization.”
The bottom line is that a technical trifecta is in play. The Dow, gold, and GDX are all hitting support with oscillators showcasing buy signals... at the same time.
SB 424 would have created a government-run gold depository, investment, and payment offering, even though these services are already widely available in the private sector.
Gold today at 4490 is nearly equidistant between its BEGOS Market Value (5260) which has just begun to descend, and its Fair Value (3926) which is in ascent.
