188 days ago • Posted by Charles-Henry Monchau

Gold is breaking out from consolidation triangle as the dollar weakens

Gold remains stuck in a short term downtrend/consolidation since July highs. With the dollar weakening again, gold is starting to break above the trend line. Here's the fundamental story: we have BOE doing more QE, ECB most probably doing more in December and Fed should be reigniting the machine. In the past, more QE translated into higher gold prices - source: The Market Ear, Refinitiv 

Gold technicals