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Gold Struggling at $2000 Resistance but Miners Look ST Bullish

Author, CMT, and Editor @ The Daily Gold
November 6, 2023

Gold failed to make a new monthly all-time high for October and is struggling around resistance at $2000. Its showing distribution. However, the gold stocks are showing bullish head and shoulder bottoms (especially GDX).

We explain how this dichotomy could play out.

The Daily Gold


Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association. He is the publisher and editor of TheDailyGold Premiuma publication which emphasizes market timing and stock selection, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets. He is also the author of the 2015 book, The Coming Renewal of Gold’s Secular Bull Market which is available for free. was recently named one of the top 50 Investment Blogs by DailyReckoning and WalletHub.

It is estimated that the total amount of gold mined up to the end of 2011 is approximately 166,000 tonnes.
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