A Golden Cross for Gold

Fittingly, gold has experienced a “golden cross” today, which is a technical signal that occurs when the 50-day moving average crosses above the 200-day moving average as both moving averages are rising.   Market technicians use the “golden cross” as a bullish indicator, but has it historically been bullish for gold?

Since 1976, gold has only experienced a “golden cross” 12 other times.  As shown below, over the next week and month, gold has averaged a change of...

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