If you take a step back and look at gold, you can see a nice cup and handle formation on the weekly/monthly chart. Could we be setting up for a $GLD $GOLD rush?
While I have gold in my portfolio, I am no longer a gold bug. After studying it enough, call it God's money or what, I look at trends to see how the underlying pattern evolves.
What do you think? Could we see a new high in gold at around $2,500?
P.S. With all the currency printing being done by the US, could people be hedging for hyperinflation?
While I have gold in my portfolio, I am no longer a gold bug. After studying it enough, call it God's money or what, I look at trends to see how the underlying pattern evolves.
What do you think? Could we see a new high in gold at around $2,500?
P.S. With all the currency printing being done by the US, could people be hedging for hyperinflation?
Comment:
P.P.S. The $2,500 level is close to the 1.272 fibonacci level of $2,470 - incase it wasn't clear to see.
Be Bold.