Gold on all timeframes is a bullish scenario, but we have to keep in mind that we are 8 years old all the time high. There is not enough physical gold - the gold derivatives markets may have the same situation as oil, only in the opposite direction. If shorts can't deliver the bullions required by futures contracts, expect huge volatility and panic in the market. Many ETFs on gold guarantee physical strength, but as much physical gold is simply not in the world as many derivatives on it. Futures contracts can be secured with gold, which has not even been mined in the mines yet, but will be mined in the near future, but this future may not come so soon, given the quarantine of gold mines. Whoever trades futures and wants to sort, make sure you understand the terms of the contract if your shorts can't be closed by the market.
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