Today’s Chart of the Day was shared by Macro Charts (@MacroCharts). It's a chart of Gold over the past decade, along with a daily sentiment indicator below. Gold has been dead money for more than a year now. It hasn't participated in the recent commodities bull market at all. However, the tide may be turning as the yellow metal reached a five-month high in today's session. As Macro Charts points out, sentiment is beginning to improve after major capitulation. The decade-long base remains intact, and seasonality is a tailwind over the next few months. Keep an eye on Gold in the near term as it attempts to reclaim the 2011 highs.
Chart of the Day - Wednesday, November 10th, 2021
November 10, 2021
