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Gold Tests Resistance – Again

by John Rubino ◆ April 11, 2018 16 Comments

Just when everyone was getting used to gold sitting around and doing nothing while tech stocks provided non-stop thrills and chills, the metal took off this morning on the “news” (read “Tweet”) that Trump is aiming some cruise missiles at Syria.

Now the $1,360 resistance level that has been an absolute brick wall since 2014 is looming once again, and gold-bugs are – once again – wondering where the next resistance lurks if this level is finally pierced.

The correct answer is that the chart doesn’t (or at least shouldn’t) matter in a world where Russia might soon be trying to shoot down US cruise missiles, Chinese and US aircraft carriers are staking competing claims to the South China Sea and trillion-dollar deficits are explicit and unapologetic government policy.

But until fundamentals retake control and precious metals start acting like bitcoin circa 2017, charts like this one are a fun diversion.

 

Emigrate While You Still Can

Comments

  1. tim zamp says

    April 11, 2018 at 7:59 pm

    short the fake market now

    Reply

Trackbacks

  1. Rubino: Gold Tests Resistance – Again says:
    April 11, 2018 at 6:02 pm

    […] Continue… […]

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  2. Gold Tests Resistance – Again « Financial Survival Network says:
    April 11, 2018 at 7:15 pm

    […] by John Rubino Dollar Collapse […]

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  3. Gold Tests Resistance – Again | Patriot Money News says:
    April 11, 2018 at 7:21 pm

    […] post Gold Tests Resistance – Again appeared first on […]

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  4. Gold Tests Resistance – Again | Economic Crisis Report says:
    April 12, 2018 at 12:27 am

    […] post Gold Tests Resistance – Again appeared first on […]

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  5. Gold’s Brick Wall « Financial Survival Network says:
    April 13, 2018 at 6:50 am

    […] gold surged nearly $24 intraday. John Rubino at Dollar Collapse noted Gold Tests Resistance – Again, posting a similar […]

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  6. Gold's Brick Wall - The Daily Coin says:
    April 14, 2018 at 12:51 am

    […] gold surged nearly $24 intraday. John Rubino at Dollar Collapse noted Gold Tests Resistance – Again, posting a similar […]

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  7. long-awaited-silver-short-squeeze-bull-market | DollarCollapse.com says:
    April 18, 2018 at 4:48 pm

    […] gold finally break through that damn $1,360 resistance and it’s off to the races. (Here’s a free gold investing […]

    Reply
  8. Is This The Long-Awaited Silver Short Squeeze, The Beginning Of The Next Bull Market, Or Both? Or, Sigh, Neither? - The Daily Coin says:
    April 19, 2018 at 8:45 am

    […] gold finally break through that damn $1,360 resistance and it’s off to the races. (Here’s a free gold investing […]

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  9. Is This The Long-Awaited Silver Short Squeeze? - Novus Vero says:
    April 19, 2018 at 1:38 pm

    […] gold finally break through that damn $1,360 resistance and it’s off to the races. (Here’s a free gold […]

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  10. Is This The Long-Awaited Silver Short Squeeze? – Wall Street Karma says:
    April 19, 2018 at 1:49 pm

    […] gold finally break through that damn $1,360 resistance and it’s off to the races. (Here’s a free gold […]

    Reply
  11. Is This The Long-Awaited Silver Short Squeeze? | Investing Daily News says:
    April 19, 2018 at 2:15 pm

    […] gold finally break through that damn $1,360 resistance and it’s off to the races. (Here’s a free gold […]

    Reply
  12. Is This The Long-Awaited Silver Short Squeeze? | StockTalk Journal says:
    April 19, 2018 at 2:17 pm

    […] gold finally break through that damn $1,360 resistance and it’s off to the races. (Here’s a free gold […]

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  13. Is This The Long-Awaited Silver Short Squeeze? | Wall Street Vibes says:
    April 19, 2018 at 2:18 pm

    […] gold finally break through that damn $1,360 resistance and it’s off to the races. (Here’s a free gold […]

    Reply
  14. Is This The Long-Awaited Silver Short Squeeze? | Real Patriot News says:
    April 19, 2018 at 2:23 pm

    […] gold finally break through that damn $1,360 resistance and it’s off to the races. (Here’s a free gold […]

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  15. Is This The Long-Awaited Silver Short Squeeze? – TradingCheatSheet says:
    April 19, 2018 at 2:41 pm

    […] gold finally break through that damn $1,360 resistance and it’s off to the races. (Here’s a free gold […]

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