I don't buy the thesis that gold is a safe haven.
There are 76 times more paper gold traded than there are actual, physical gold in the world.
For the last couples of years alternatives have emerged such as cryptocurrencies. I know they have been heavily criticized as they are not regulated by central banks. However, on the other hand the traded gold papers have no real underlying value and they could be substituting one another.
Gold recently kissed a trend line, flirted with a 0.618 retracement and had a tripple top on a daily chart with the second day as a bearish harami cross.
Tight stop loss and risk/reward 1:7
There are 76 times more paper gold traded than there are actual, physical gold in the world.
For the last couples of years alternatives have emerged such as cryptocurrencies. I know they have been heavily criticized as they are not regulated by central banks. However, on the other hand the traded gold papers have no real underlying value and they could be substituting one another.
Gold recently kissed a trend line, flirted with a 0.618 retracement and had a tripple top on a daily chart with the second day as a bearish harami cross.
Tight stop loss and risk/reward 1:7