From the Desk of Ian Culley @IanCulley
Gold is hanging on for dear life.
Rising interest rates and a strengthening dollar create formidable headwinds for the shiny yellow rock.
I remain optimistic for the entire precious metals space, but hope is not a viable trading strategy – especially if gold undercuts its 2011 highs.
Some gold bugs may find it difficult to accept, but gold’s a short if and when it decisively closes below its prior commodity supercycle peak.
And it’s trading back at those former highs today…
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