Chart of the Day - Tuesday, April 4th, 2023

Today’s Chart of the Day was shared in a client note by John Roque of 22V Research (@daChartLife). Gold is firmly above $2,000/oz. for the first time in more than a year, and it's just 2.5% away from breaking out to all-time highs. It booked its fifth highest daily close on record today, after closing at an all-time high on a monthly, and quarterly basis last week. We've seen this movie twice before in the post-Covid era, and it has ended with Gold Bugs in tears. The two prior breakout attempts in 2020 & 2022 failed to produce a new leg higher. Will the third attempt be the charm? As John points out, it's now or never for Gold, as triple tops are rare. To hear more of John's thoughts on Gold, Check out our conversation here.