SX Gold & Metals Advisor | July 13, 2021
Gold: Not There Yet, but Getting Closer
After weeks of being constrained by the dollar’s rally and subsiding inflation concerns, gold finally has what looks to be a new “fear catalyst” to worry about going forward.
Gold still hasn’t confirmed a bottom, but we’re getting closer to one after the recent drop in Treasury yields and the increase in concern over the Delta variant of the coronavirus.
And while some additional near-term weakness is likely, the fundamentals underlying gold’s longer-term bull market remain intact.
We’ll also discuss the increasing strength in the suddenly white-hot lithium market, as well as the return of strength in the closely related nickel market.