FX:XAUUSD   Gold Spot / U.S. Dollar
Monthly chart that's quite self-explanatory.

There's no reason that the current trend that's lasted 20 years would suddenly break, unless the FED start raising rates which would absolutely obliterate the already crumbling economy.

Compared to 2008-2009, money growth has surged almost twice as fast Simply going off from the previous extension that occurred post 08' where gold rose close to 2000 by 2011, assuming such an extension(+85% from the previous peak) occurs, we should expect a top in the range of 3500-4000$.

The near term target by inauguration day 2021, should be in the range of 2450-2800, depending on the amount of stimulus expected to be announced by the end of August, and of course who'd win the 2020 US election.

Interesting relationship: should expect a strong correlation of gold and US big tech as long as handouts keep on flowing and inflation is below ~6%. This may change, if the tax code is amended ~2022-2023.

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