Gold has been consolidating since Aug of 2020, after prior upwards move. In my view long term price should increase substantially, primarily driven by inflation. In the short term I am expecting a move to $195. Prior to this move I am seeing a decent possibility for price to reach about $157 which could coincide with Fed's rate hikes and or stock market decline. At this point everyone sees cup and handle formation (on monthly chart) and once price starts to itch above $195 we should see long term bull market.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.