Yatagi Takaoaki "Weekly Gold Market Outlook" June 6, 2022 issue
Takakazu Kabutori, the president and CEO of Kabushiki Kaisha Investment Daily, and a master of cycle analysis, writes a weekly report on precious metal market outlook.
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Last week’s NY gold futures settled at 1,850.2 dollars per ounce (nearest), down 1.1 dollars from the previous week. However, the week's high was 1,878.6 dollars on June 3, a new high for three consecutive weeks. On a daily basis, the chart pattern on the 2nd suggested a breakout from a consolidation, and although the 3rd saw a higher high, the close was a bearish close. Whether the consolidation breakout over these two days was merely a false signal at the end of Mercury retrograde remains to be seen. Mercury retrograde ended on June 3.
If this coincided with a turning point, it would mean that gold’s rally that began on May 16 ended with the end of Mercury’s retrograde.
However, last week was a week of events, with the U.S. employment report released. Below is the content from “Washington Jiji” translated for reference…
For the continuation, please refer to the PDF file.
【Takakazu Kabutaki – Profile】
Graduated from Kwansei Gakuin University, Faculty of Economics. In 1995, partnered with the world-renowned U.S. market analyst Raymond Meriman to publish Japan’s first domestic market cycle and astrology reports. He is well-regarded for market analysis using cycles and astrology. President and CEO of Investment Daily Co., Ltd.; President and CEO of Investment Daily Publishing Co.; Director of Wakabayashi FX Associates; Member of the Japan Technical Analysts Association; Editor-in-Chief of Investment Daily Alpha.
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