Thanks for the good question. The death cross might be a test of the long-term bull market in gold. During the previous long-term bull market between 2001 and 2011, death crosses appeared in 2004, 2005, 2006, 2008. In all those cases, gold had already started rising again when the death crosses appeared.
After 2011, gold was dropping at the times when death crosses appeared, and then continued lower.
The test is over the next few weeks if gold rallies in face of the cross, or if it rallies enough to prevent the cross from appearing.
Thanks a lot for your valuable updates.
I can see a looming Death Cross in the gold chart, will appreciate your comment on that and its possible consequences on gold, and possibly on silver.
Kind regards,
Ahmed
Thanks for the good question. The death cross might be a test of the long-term bull market in gold. During the previous long-term bull market between 2001 and 2011, death crosses appeared in 2004, 2005, 2006, 2008. In all those cases, gold had already started rising again when the death crosses appeared.
After 2011, gold was dropping at the times when death crosses appeared, and then continued lower.
The test is over the next few weeks if gold rallies in face of the cross, or if it rallies enough to prevent the cross from appearing.
Thanks for your prompt response!