Gold Rallies On

Gold has been in a rally since mid December last year. Price then was $1,236 and steadily kep climbing to today's high of $1,332. Currently, it's slightly lower at $1,331 but it seems that accumulation is still going strong.

What could be responsible for the price increase is that people who sold Gold for crypto are now back into Gold after Buffett went live and casted a big shadow on crypto saying that crypto markets are a bubble and it will end bad.

As a result, crypto markets are now 20% down while Gold is up and looks healthy to continue trading upwards.

It is true that people are selling their Gold to get into Bitcoin. If you consider doing the same, please look at fundamentals, market sentiment and behavior and always do your own research.

Chart: XAU/USD H4