Gold printed same top as bitcoin, but there is some potential here for a breakout to the upside. The move down seems controlled, which can be seen by strong pushback real quick just 3 days in the new month, which can be seen in the monthly chart. I got a small bearish bias, as this can be a giant distribution trading range. On the other hand, I like gold, but I keep my feeling out of the analyses, it's of no use for you.
I don't know what to think of central bankers owning most of the gold in the world vs what people claim to happen in the near future, like that all banks will go down, if so, then gold won't be worth much as supply floods the market, right? I personally don't think central bankers will disappear overnight, as the likes of the IMF. Nation states? Yeah, probably. Private and commercial banks? The central banks like ECB are already destroying them in Europe with negative interest rates. See any European bank stock chart and compare that to the US ones like Goldman Sachs. It's very apparent they want to steal the pension funds and rob the more well off people here.
But still, the thought of gold owned by them is a conundrum what it will do to price. I don't think gold will be "the standard" in the future (and please don't talk about bitcoin, that won't ever be "the standard", that I do know.) Please share your thoughts below.
I don't know what to think of central bankers owning most of the gold in the world vs what people claim to happen in the near future, like that all banks will go down, if so, then gold won't be worth much as supply floods the market, right? I personally don't think central bankers will disappear overnight, as the likes of the IMF. Nation states? Yeah, probably. Private and commercial banks? The central banks like ECB are already destroying them in Europe with negative interest rates. See any European bank stock chart and compare that to the US ones like Goldman Sachs. It's very apparent they want to steal the pension funds and rob the more well off people here.
But still, the thought of gold owned by them is a conundrum what it will do to price. I don't think gold will be "the standard" in the future (and please don't talk about bitcoin, that won't ever be "the standard", that I do know.) Please share your thoughts below.