Gold has entered the month of December in a bullish way if we look at the charts, with an increase of about USD 16.00.
This increase is mainly caused by a weaker US Dollar and decreasing US treasury yields. The 10-year U.S. Treasuries have slid below 3%.
So the US Dollar remains the primary driver behind the price of gold.
Looking at the charts we see higher highs and higher lows, so the market looks bullish.
Again, the price is driven by the dollar and I find it hard to believe that this market remains sustainable enough for a real bull market.
Let us see how it will play out.
In the meantime my motto remains to accumulate my gold holdings.
Enjoy!
Picture honestly borrowed from zerohedge