Since our January 16, 2023 posting, the price of gold has increased less than 3%.
This makes our commentary at the time seem appropriate when we said:
“Based on the PMI, Gold is worth considering, but only if you’re willing to overlook the prior periods of whipsaw action in the indicator.”
Price Momentum Indicator as of November 8, 2023:
The 2011 peak at $1,900 and the current peaks near $2,000 seem to indicate that an epic move higher is on the horizon. However, as indicated in the prior posting on the topic, “Gold is worth considering, but only if you’re willing to overlook the prior periods of whipsaw action in the indicator.”