Gold Intraday Update, Still In A Correction?

Gold and gold related stocks have taken a beating along with the regular stock market. Gold stocks are more related to what the US dollar is doing, not necessarily what the fundamentals are doing.  I think there is more downside to go with gold, but the need for a safe haven asset class, is pretty strong.  I don’t think even $1304 is deep enough for any wave 2 bottom to be completed so we have to be aware that this gold correction still needs to haunt us before another great leg up can occur.

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