With North Korea’s new resident whack job running off at the gob and the United States man baby in chief responding I thought it would be interesting to take a look at gold. The supposed safe haven investment that that right wing doomsday preppers and idiot late night tv shonks go on about.
There are a few points to note.
1. The last sustaine uptrend in gold was 2009 to 2010
2. Gold has been range bound for over four years. The ranges of this boundary are defined by $1450 and $1100.
3. It currently appears to be trending up within this range.
4. 30 day historical volatility is relatively low as define by being below its 90 period weighted average.
It is this observation about avolatility that interested me the most. The lack of response in the price of gold to the idiocy up north is intriguing but not altogether surprising since gold long ago lost its safe haven, store of wealth, save you when armggon comes status despite what the loons say.
However, there is a nice little break to the upside that appears relatively clean and has occurred under low volatility. But always think of what could go wrong not what what might go right
PS; Gold forms a major part of my trading universe.