For Gold to aspire to the heights that its evangelists have been spouting on YouTube and various forums, I would argue we need a $USD breakdown.
(I often think the only monetary gains these people are making from their advice are click revenues.)
One reasonable way of portraying Gold's future is illustrated by the Gold/DXY ratio.
$USD's recent strength shouldn't be a surprise, given:
(i) world interest rate differentials;
(ii) a surge in commodity prices (which normally require $USD payment); and
(iii) its perceived safety.
This ratio has been in a well-defined channel since gold peaked in August 2020 and held this channel with Gold's March 2022 price peak. The recent April 2020 challenge of $2000 marked the ratio's recent rapid decent.
Three distinct recent channels have been illustrated on the above chart.
For gold to mount a serious rally, IMHO we need to see $USD weakness -- which may come from various factors too numerous to mention in this space.
For perspective purposes, I have included long term weekly DXY and Gold charts as inserts.
This is educational not investment advice.
Do your own due diligence while watching the bigger picture and review world events as they evolve around you.
This can be a fast and volatile market that takes no prisoners.
Good Luck and thanks for reading.
Hopefully you found it this useful.
코멘트:
An update... baby steps
코멘트:
An update... going to plan ....
코멘트:
An update ... perhaps a pause here as we challenge a supply area....