Gold... the precious metal to back up the modern economy as we know it. Potentially to reach the last spike of 2400 usd levels or a double top but nah it will not probably.
Well I got news for ya, who back up gold, (a printer or nukes) ?
Can´t eat it, can´t really see it or no transparency behind the curtains, so unless used for technology (dead capital) is just useless. Is not a value on demand or indispensable to live and just because someone says is worth it it doesn´t really has a value for all.
I can claim I have 1 million ton of gold in my basement and continue getting credit for a while but wait isn´t that another bubble? Will come out eventually and now seems about time. New economies are emerging with new markets and creativity including blockchain.
Reasons to short: 1- Inflation adjusted chart looks bearish. 2- Indicators like CPI and momentum (RSI,MACD) are bearish. 3- the economy is not anymore centralized (stronger now, many pillars). 4- pandemic was the bottom of economy, even a bubble can´t be global.
So friends to conclude I am not saying gold will crash, just can´t be so egocentric anymore.
M.M.M Make Motherfuc.in Money
Be wise: don´t work for the money, make your money work for you.