GOLD
has many reasons to push higher, but money printing is almost the only one that ensures that its just a matter a time. Imo this is a chance not to loose.
Cheers
Comment:
Seems logical to think this might be the start of an interesting move.
Comment:
1885 bullish retest on weekly frame
You can check by yourselves that we are having a great expansion on the balance sheets from the Central Banks, 12% in 45 days.
We are going to prolly reach 20% by the end of the month, and only God and Powell might know how much this expansion will be about.
Then we can check how we are kinda on an artificial bull run fueled by free printed money since 2001.
Each recession was treated the same way: lowering I.R, QE, and bail outs.
With these both charts we could infer that $GOLD chart will see an expansion, since its ratio OzGOLDUSD/M2 is clearly understimated.
I think we might face an insane rally for GOLD in the following months. We just need a trigger, some driver. And seems like the present is full of those things.
As you can see, if the GOLD chart compensates the increase on the Money Supply, we expect to have a 100% rally.
If we see the context of the chart, a 100% rally would be ATH, and only God knows how long the bubble will last.
I expect 3700 as a conservative target.
IMHO on the long term we could expect 5000+ USD per Oz.
Of course, NFA. Just an opinion.
DYOR, do your maths, take your risks, and put ur belts.
Gold isnt known for being an easy market.
Cheers!