GOLD, Hedge Against Inflation, Stagflation, Recession!

Hello there TradingView Community!

Lets jump right into the gold situation on the weekly basis right now. In the past weeks and months we have seen emerging markets such as the BRICS nation massively buying up gold to undermine the U.S.-Dollar hegemony and hedge against upcoming events resulting out of the current economic situation. These fundamentals give a realistic indication on where gold is likely to head over the next times, and therefore it is a positive indication for new highs to be seen sooner or later.

From the technical perspective, in my chart there is this paramount primary ascending triangle formation, I already wrote and published about such a triangle formation before and such a triangle formation is likely to result in a gigantic breakout once the formational structure has been completed with the final breakout above the upper boundary. Once this breakout has been emerged a push towards the 2.5K level will be a highly likelihood scenario.

Thank you everybody for watching. If you liked my idea feel free to support and let us move forward together.

VP

Comment:

GOLD is holding the base before major PCE Inflation and U.S. CPI Reading.

Comment:

GOLD is moving forward with the completion of the confirmational head-and-shoulder-formation.

Comment:

ANALYSIS UPDATE: GOLD is continuing with forming the major inverse head-shoulder formation to approach the major support zones.

GOLD once a bounce within the support zones has been completed is going to set up the next stages of bullish breakout accelerations.