Looking at the data from the US last week, seeing how NFP was revised down AGAIN, Unemployment up, whilst prices going up both in manufacturing and in construction, shows that inflation is sticky whilst the economy is weakening, therefore we can see that Stagflation is going to become a real thing in the US and global economy, which means that Gold is the perfect inflation hedge
I expect Gold to reach 2000$ by the end of the year unless Russia surrenders and loses the war and everything goes back to pre - covid... However, seeing how Taiwan is strengthening their military, and so is Japan & Korea, they are preparing for something sinister, there is a global war coming and a potential great reset is on our way.
I expect Gold to reach 2000$ by the end of the year unless Russia surrenders and loses the war and everything goes back to pre - covid... However, seeing how Taiwan is strengthening their military, and so is Japan & Korea, they are preparing for something sinister, there is a global war coming and a potential great reset is on our way.
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Beautiful reactions to my supply zones and as predicted reached my 1920 supply zone and bounced hard, expect a bull run today unless PMI comes out super hot (highly doubtful given Challenger cuts)
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On the retracement the supply zone has been touched. I strongly believe Gold will rise next week to 1970!
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North Korea and Russia are having a Summit on the 13th, BOJ most likely to end negative rates, and that in turn will definitely push Gold higher, unless anything changes.
On smaller time frames gold is now neutral to bullish.
On smaller time frames gold is now neutral to bullish.