GOLD UP TILL 2700!!!

With the overall ongoing economic condition, market sentiment, we are likely to see a upward trend on GOLD to breakout this 1680 - 2000 area and push up to make a new high. Looking from an investor behavior perspective, I would like to see gold reach up till 2700 in 2023.


Facts and idea that support GOLD is ready for an uptrend.

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Considering the fact that the since January 2020 the US has printed nearly 80% of all US dollars in existence. Result of that, as the economy slowly recovers from this inflation, the current monetary accommodation is unwound. This is very solid fact that GOLD can move up because before the pandemic even started, GOLD was trading at 1500 area breaking the consolidation area that we had been there for more than 6 years.

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Considering the fact that market sentiment uncertainty of global economy, Investors invest in safe haven metals like GOLD, SILVER, PLATINUM and also (ETF) or a mutual fund with gold in the mix.

Regardless of the upcoming major economic indicators like rate hikes or positive unemployment claims, Market has already priced those factors in.