After taking a rapid correction following Bidens victory pushing up yields, Gold looks set for another move higher following E Wave analysis.
A key catalyst for a potential gold move back to highs would be a potential downside move on BTC.
BTC has definitely gained interest, with many investors now comparing the unique asset class similar to gold in its ability to act as inflation protection. This has possibly caused a lot of investors to reallocate their gold positions into Bitcoin, which could be a reason for BTC's massive growth not correlating at all into gold. If there does seem to be a larger correction in BTC than anticipated, this could cause investors to trackback on their allocations to avoid volatility, causing appreciation for gold.
This is just my theory and will see how it plays out.
A key catalyst for a potential gold move back to highs would be a potential downside move on BTC.
BTC has definitely gained interest, with many investors now comparing the unique asset class similar to gold in its ability to act as inflation protection. This has possibly caused a lot of investors to reallocate their gold positions into Bitcoin, which could be a reason for BTC's massive growth not correlating at all into gold. If there does seem to be a larger correction in BTC than anticipated, this could cause investors to trackback on their allocations to avoid volatility, causing appreciation for gold.
This is just my theory and will see how it plays out.