MacroVoices #385 Dr. Anas Alhajji: 2024 Energy Markets Outlook & More
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The Gold Teacher's Chart
The US Dollar was holding quite an important support along that 101 level which also was very close to a key Fibonacci zone. That clearly has now broken and you can see that we're now on a sustained basis below that 200 day moving average making lower highs and lower lows. I think gold is still trading as a reciprocal play on the dollar to a large extent. The market may be starting to discount the fundamental driver of this new BRICS reserve currency creating additional demand but frankly I doubt it.
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