Sometime down the track I'm expecting gold will start a run. What I'm hoping for is to call that run exactly or closely thereabouts when it begins, that's the theory.
Precious metals, some love it, wearing it around their necks to show off, like wearing watches for vanity when a mobile phone does as good or a better job of telling the time. Precious metals does nothing for me, but there are some specialized industrial uses. Ya, me thinks PMs days are numbered as a mainstream investment, but like coal and oil, will take a great deal to kill it off and put it out of its misery.
Tuesday my gold and silver signals finally beginning to turn bullish inspite the fact silver price fell. The general stock market including crypto was lacklustre. From August 2020 gold has been trending down and from April 2020 the S&P500 has been trending strongly. I'm expecting ASX gold today (Wednesday) will be strong which will help confirm gold/silver may be now heading toward the Christmas rally. Not quite punched through resistance.....yet. But the possibility is high it will.
Silver futures. A bullish gold will have silver outperforming. (in my opinion) If one were to use silver as a bellwether, atm it's not looking good. I don't use silver as a bellwether, imo, it's a lagging indicator.
ASX gold index closed Wednesday a tad above 3 monthly high at 6622, a narrow range day, sign of indecision. So at this point in time, no strong signals but of the opinion gold more bullish than bearish.