NDR: Another Golden Opportunity?

Gold’s recent sell-off tested its April lows and produced an oversold condition, as shown above. Is this an opportunity to buy on weakness within an ongoing uptrend?

That was the case after the oversold condition back in December 2016, when we started tracking our gold recommendations. Gold sentiment and seasonality suggest that more consolidation may be needed for a sustained recovery, along with continuing weakness in the U.S. dollar and interest rates.

Unless interest rate trends start to threaten, which is currently unlikely, gold demand can be expected to remain strong at a time when gold supplies are under pressure. NDR is keeping watch for a potential buy signal from our short-term model.

Stay tuned for more insights from Ned Davis Research as we delve deeper into the dynamics shaping the economic landscape and offer actionable strategies for investors. Let us help you See the Signals.™