Whether from recent lows or slightly lower lows, Gold is preparing for a major bull trend. The weekly chart displays a massive multi-year Cup and Handle with a smaller Cup and Handle appearing in the Handle of the larger pattern. My target in Gold is $3,400.
volume is low and supply is growing fast.... draw all you want VOP signals a downward trend. $1,400.00
TruckingAngler
⋅
Goldman Sachs Raises Gold Target Yet Again To 2500/OZ By Year-End Signaling Boost To Gold Industry. Jun. 28, 2022 3:55 AM " "Goldman Sachs has recently raised its year-end 2022, gold price target to 2500/OZ, signaling a strong 2022 after gold prices ended 2021 down approximately 4%. Last year’s strong economic recovery and growth created conditions for the decline in gold, as investors moved to riskier assets. However, the coming year could bring increased concerns of a US recession, which would lead to higher gold prices. Goldman Sachs has recently raised its year-end 2022, gold price target to 2500/OZ, signaling a strong 2022 after gold prices ended 2021 down approximately 4%. Last year’s strong economic recovery and growth created conditions for the decline in gold, as investors moved to riskier assets. However, the coming year could bring increased concerns of a US recession, which would lead to higher gold prices. While some investors are concerned about the potential for inflationary pressures in the wake of unprecedented levels of government stimulus spending, Goldman argues that these fears are overblown, and that inflation will remain contained. Other global risks including the Russian invasion of Ukraine may play a hand in a lower risk appetite in the markets. Analysts and economists have also started to sound the alarm on a deceleration in U.S. growth. This could lead to a perfect storm that propels gold prices much higher in the months ahead alongside falling valuations for equities. One industry that may remain immune to many of the negative shifts playing out is the gold mining industry. Not only do gold mining companies benefit from higher gold prices, but they are also able to hedge their production at very attractive levels, meaning that they will still be able to generate healthy profits even if gold prices were to fall. This makes gold mining stocks an attractive option for investors looking to profit from a potential gold price rally. Exploration companies also present new opportunities for investors to gain from a rise in gold prices. While small-cap stocks and explorers often see the effects of a boost from gold prices later than major producers, the effect is often significant. One of those companies, Collective Mining (OTC:CNLMF) (TSXV:CNL), has shown that strong recent news and the right conditions in the gold market can push a stock higher. The stock is up 28% in the past six months from October 26, 2021, to April 25, 2022. Collective recently announced it had intercepted a broad zone of mineralization at a new maiden drill hole at the Apollo target at the Guayabales project in Colombia. This is part of a minimum 20,000-metre drill program for 2022, with four rigs currently operating at Gauayabales. The company is expected to release further news and assay results in the coming months, at the same time that gold prices are expected to creep higher by Goldman Sachs analysts. Goldman Sachs has long