Markets contract Trump derangement syndrome

Friday 22 November 2024

The Market Ear on macro market moves.

The golden bounce

Gold’s bounce on the trend line and the 100 day moving average was just perfect. Note we are trading above the short term trend line as of writing. The bounce has been aggressive, so we would need the shiny metal to catch some breath. $2700 is big resistance area.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.