#Gold – Consolidating before the next burst higher, bull trend is broad based and E-wave count suggests $1550 a viable target
The combination of lower interest rates, an under-pressure USD and unresolved US/China trade talks, has seen Gold soar. Gold is currently consolidating its recent gains and is on pause. We view the next move higher so any dips are a good opportunity to allocate capital in Gold.
1. Gold consolidating before the next major push higher, buy the dips…if any!
2. Gold priced in major currencies is also in a bull trend which bodes well for trend sustainability
3. Our preferred Elliott Wave Count suggests $1550 a viable target, Gold stocks outperforming Gold which is very positive for Golds trend