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Alasdair Macleod: Swaps squeezed as gold breaks out
By Alasdair Macleod
GoldMoney, Toronto
Friday, September 13, 2024
Not only are the charts foretelling higher prices, but runaway US debt and increasing threat of an all-out war against Russia are fueling a global panic out of dollars into gold.
Gold finally broke out above its tight consolidation range into new high ground yesterday and saw overnight demand taking it to $2570 this morning. That’s up $73 from last Friday’s close. Silver was at $30.15, up $2.25 on the same time scale.
By way of an update, the technical charts for gold and silver follow ...
... For the remainder of the analysis:
https://www.goldmoney.com/research/gold-swaps-squeezed
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