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Gold Relief Rally or Start of Something Big? – “RESET” w/Vince Lanci

from KitcoNews:

Vince Lanci talks gold, Asia, and the Fed on this edition of “Reset.” Lanci touches upon Asian demand for gold, the Chinese gold-backed ETFs and South Korea’s new gold exchange. “If you’re setting up a vault or exchange in the far east, you’re expecting business…There is a migration of demand from western countries to eastern countries,” he added. With regards to gold, Lanci says there was a wedge recently but that charts now show a v-shaped bottom. “You should be very suspicious of this rally because right now it’s still a relief rally. V-shaped bottoms in gold are dangerous, they rarely happen,” he added. He also says that he is no longer trading on the short side and will trade from the long side if gold reaches $1,342.

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