Gold Technical Analysis – The only game in town during stagflationary times — TradingView News
Fundamental Overview
After a brief consolidation in the first part of the week, gold eventually broke out into a new all-time high and surged by more than 3% in just a day. The precious metal has been the only game in town recently as the uncertainty and risk off flows haven’t even supported bonds, which generally rise during such times.
But these are not normal times because the market is fearing stagflation, which hasn’t been seen for decades. This is an environment where you have lower growth and higher inflation. Gold thrives during such times. The problem is that “long gold” is now the most crowded trade, and such parabolic rallies can be wiped out fast if conditions change.
In the bigger picture, gold remains in an uptrend as…
