China Tensions to Push Gold Over the Top?

Technically, gold has been more or less bulletproof since March, finding strong demand on every minor pullback. If the "China Trade War" period is any guide, we are very close to a breakout topside. As long as GC1! stays in the upper half of that regression channel, you're supposed to get long and/or stay long. Bulls may need to wait for the 50-day to catch up so be willing to be a little patient. Our target remains $2,000 by Labor Day and $3,000 by the end of 2021.