Have we seen the end of gold outflows?
We have just experienced the longest series of outflows from the gold since November last year when the metal hit a bottom and increased by 26% in the following months. This is a classic sign of weakness before a significant market movement.
Investors have been shaken up after a triple top resistance, although historically these formations almost never work.
This is likely to develop in the context of silver breaking a 15-year downward trend line and potentially moving significantly higher.
A strongly convincing setup for precious metals to perform exceptionally well in the short term.
Source: Bank of America Global research
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