November: Is Bigger Drop In Gold Just Around The Corner?

 | Nov 24, 2021 11:31AM ET

As expected, after the applauded increase, gold fell. But will it manage to bounce off the bottom or rather slide lower?

Today’s analysis is going to be all about gold, and for a good reason. Based on yesterday’s and Monday’s sessions, November is now a down month for gold. Please let that sink in.

Gold ended last week above $1,850, with almost everyone in the market cheering and making bets, on how soon gold will move above $1,900 and then rally to new yearly highs. It was after the completion of the inverse head-and-shoulders pattern, after all!