Gold, To Die Or Not To Die Is The Question?

Gold has executed a pretty choppy decline, which I see as a good thing. Choppy declines can just be part of bigger corrections, and this gold decline has no shortage of choppy declining wave structures.  I would rather see a nice spike to the downside and then the reversal, so more downside may still be the order of the day. Gold reacts more to the US dollar than any other economic fundamentals, like oil might do, so I remain bullish on gold in the longer term.  Short term anything can still happen, so we have to remain open minded for more downside to come.

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