This came to me on June 20th in meditation that gold would reach 1917 in August. It's not August yet (close), but that price level is now close, which is really interesting. I started my line on the next trading day from the 20th, which was the 22nd, and obviously, gold gapped up.
Idk if this'll end up like TSLA, where I get a level and there's a pullback and then it keeps going, but it's definitely something interesting to watch.
Idk if this'll end up like TSLA, where I get a level and there's a pullback and then it keeps going, but it's definitely something interesting to watch.
So, what happened in 1917 with gold, or the economy that may impact gold??? I dug a bit and found this from SeekingAlpha.com, written by Rothko Research:
"One striking observation in the U.S. is that inflation can suddenly get out of control and it becomes very difficult to reduce it without sharply reversing the stance of monetary policy.
********************* Figure 1 shows that inflation averaged 0.9% in 1915 and then surged to nearly 18% in 1917; ***********************************
it also switched from 2.3% to 14.6% post WWII between 1945 and 1947, and it surged from 3.3% in 1972 to 11% in 1974 during the first oil shock.
We strongly believe that we will experience a similar scenario in the next two years with inflation rising significantly higher than the Fed's 2% 'target'. As a result, we are very bullish on gold and other non-interest bearing assets ..."
So, expect gold to continue up and a spike in inflation.