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GOLD: confirmed 'Dark Cloud' pattern

GOLD: confirmed 'Dark Cloud' pattern

Information is not investment advice

There's a 'Dark Cloud' pattern, which has been confirmed, so the price is declining. It's likely that the market is going to reach the closest support at 1262.05. This level could be a starting point for a local upward correction towards the previously tested 'Window' (1281.18). At the same time, if we have a pullback from this level, bears will probably try to achieve the next support at 1240.71.

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Gold isn't saving investors from inflation

Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?

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