Since the last part of April and all of May gold showed 3 higher lows before soaring to $1318. I think a correction is due but this could also be another false start to nowhere after which gold can crash very deep.
This has happened so many times that I care to count, but I also know these wild and choppy moves are part of what makes commodities rather exciting at times.
Of course, if you missed this run then welcome to the club. All the spikes you see you can ignore them, except our present spike, which is the real deal! This blast is part of a “C” wave which if I’m right, will get completely retraced.
These wild moves also change the Gold/Oil ratio but the ratio has remained close to 24:1.