by Stewart Thomson
1. Gold price bulls and bears may all be getting a bit frustrated now, as gold refuses to follow their predicted paths, and simply meanders sideways.
2. Please click here now. Double-click to enlarge this daily gold chart.
3. Gold is well-supported in the current price zone. Institutions are buyers on minor dips, but the next major move to the upside is unlikely to happen without a significant fundamental catalyst.
4. Janet Yellen makes an important speech at Jackson Hole later this month. For decades, I’ve viewed the August 7th – October 31st time period as US stock market “crash season”. If Janet causes the stock market to stumble with stronger words about a possible rate hike in September, that could quickly send gold towards my $1432 target.