Once again, we saw the divergent paths of gold and other risk-based asset classes in play Thursday. The precious metal advanced to yet another record high with an intraday push above $1,385. Investor confidence / pessimism have little sway here as the commodity continues to carve one of the most consistent and aggressive rallies we have seen since the market-wide recovery move through 2009. Is there a ceiling in sight? From a purely speculative perspective, the only thing that the broader masses have to work with as a mile marker are the large, round figures. That being said $1,400 won’t likely curb the buying momentum we have seen over the past two months. Instead, gold’s pace is the critical link going forward. And, to throw the breaks on this astounding run; we need a fundamental catalyst.
To all divergent trader, are we shorting this pair soon enough ?