As we came into last year the rally in gold was already well-built, with a bull pennant forming in the final two months of last year following an almost 40% rally from February into October. But it was around the US election that something began to shift, and it wasn’t the first time we had seen something of that nature as flows drove into Bitcoin rather than gold and the cryptocurrency was pushing into the New Year with a full head of steam. It was right around President Trump’s inauguration that we saw change hitting markets, with the USD hitting a high and EUR/USD crafting a low. Gold broke out in a big way from ... (full story)