Gold has plenty of room to run relative to money supply for OANDA:XAUUSD by ZChartDoc

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supportandresistance trendline fundamental gold xauusd xau moneysupply inflation moneyprinting

Gold approaches all time highs against the dollar (and is already at ATH against pretty much every other currency), and some might say the metal is getting a little overheated. But when compared to the money supply ( M2 ), gold has a lot of room to run in the coming years and the chart looks extremely bullish . I believe the strength in the chart is a reflection of the fundamental macro picture of a totally reckless Fed brrrrr machine combined with no political willpower on either side of the aisle to slow down fiscal spending. With that in mind, it looks like this bull market is just getting started.

Comments

$3,000 an ounce gold is definitely a realistic target.

WorldEconomics

@WorldEconomics, even 4000 are not impossible

The party starts above 0.11. It will take 2 months to get there. During that period spot price might drop 150-200$.

chartwatchers

@chartwatchers completely agree, this is a big picture call and there’s plenty of room for pullbacks along the way. Personally wouldn’t mind a $200 drop to grab some more! Haha

nice! indeed. i like when some people still pushing short to feed the bulls ;) 3000 would be easy.

For those interested the C down leg of the Elliot Wave Bear formation began this week just happening to coincide with ALL TIME HIGHS in XAU...

GOLD IS THE GOLDEN CANARY IN THE COAL MINE!

Always has been, always will be.

See my post for Chart rationalisation and Commentary.

Bears get primed to Short like you've never shorted before. This Draw down will make the March Collapse look mild. We are headed for levels that will astound. See my long term Elliot Wave Analysis

that gives you the BIG Picture for the next decade and beyond.

UH MY !!! GRAND SUPER CYCLE CLOSE UNLEASHES VERY LONG TERM BEAR.

BEWARE THE BEAR MY FRIENDS. BEWARE THE BEAR

xCM

This implies that M2 would be shrinking though.

Perhaps a dumb question on my part... but... if goal is supposed to hold its fair value against an increasing amount of M2. Shouldn't the chart stay somewhat flat? And if we consider the possibility that Gold overshot its fair value in 2011, and returned to its fair value around 2014, wouldn't that mean that gold is fairly priced right now? Or at least close to it?

Do you know ! program trad system market is marchine really ? They are up or down not has by market really!....