If memory serves me correctly, 1500 is the next level of strong support and then very little to near 1,000.
I fully expect gold to push the 1,000 level before the next bull market kicks off. From there, we could see 3,000 over the next few years.
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Yea my levels for Gold are about the same but there is definitely more resistance than support at the current levels. This is why I have a small position and plan to add on the way down.
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For all the whining about hyper inflation, gold is telling a completely different story. That is, historically, the most correlated asset to inflation yet the price is down a few hundred from the high.
The trend is down the last 5 or 6 months, not something you would see if we are on the brink of massive inflation. The gold market also tends to be ahead of the game when it comes to that.
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Yea but currently there are too many economic factors contradicting each other. I think speculation has moved the markets out of place and a correction is bound to happen on one of the two sides.
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It seems a lot of things moving the markets out of kilter. To start the never seen before money is going to hinder things. We also have a lot of "kicking the can down the road" with forebearance and a host of other programs.
What happens when those end? Then we will see what truly takes place.
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It won't last forever because each package is requiring more and more money to fix the issue. Eventually the amount will be way too ridiculous and they will have no choice to fix it.
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@taskmaster4450le the gold market usually does what is happening right now,its just history repeating itself..
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