Gold is heading towards the lower support of 1850-1870 and may show a responsive activity from that area. But, on the other hand, inflation is not gone anywhere, and Gold remains one of the well-known inflation hedges (at least, it was so in the past). So, as shown on the chart, any aggressive buying pressure might turn into an avalanche.
$2000 looks like an appropriate long-term level for GoldGold, keeping in mind that inflation will continue going up, and the hawkishness of the FED will stop at some point.
$2000 looks like an appropriate long-term level for GoldGold, keeping in mind that inflation will continue going up, and the hawkishness of the FED will stop at some point.