GOLD Doesn’t Care About Your Support Lines

The chart itself doesn’t tell you why price is moving, the macro context does.

See…

Traders kept drawing support lines on GOLD, looking for the perfect bottom.

But when rate expectations shifted higher, the macro changed, and every chart level became secondary.

Higher expected rates raise the opportunity cost of holding non yielding GOLD, pushing capital toward yield bearing assets and forcing precious metals to reprice.

The chart shows the move.
The policy environment explains it.

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