Gold needs a catalyst to jump out of the $1,800 zone, and U.S. dollar weakness might be the answer.
Key Takeaways:
- Gold’s 200-day moving average and 50-day moving average are headed for a “golden cross,” which might be enough to push gold above the $1,837 resistance zone.
- Goldman Sachs predicts that the U.S. dollar index has very limited upside potential – all the positive news has already been priced in.
- The United States’ Afghanistan exit has damaged the nation’s reputation, further deteriorating the post-WWII Bretton Woods economic system where the dollar is king.