Macro environment:
With Fed continuing to print money, inflation is no longer transitory.
Without a clear timeline for taper, gold will present opportunities for hedge.
Even if interest rates are raised, market turmoil should also be good for safe havens like gold
Technical Analysis:
Previous 2x Falling wedges resulted in a price rebound within the trend channel and this 3rd falling wedge should not be any different.
Long term, GOLD is also on an uptrend, i see very little downside.
With Fed continuing to print money, inflation is no longer transitory.
Without a clear timeline for taper, gold will present opportunities for hedge.
Even if interest rates are raised, market turmoil should also be good for safe havens like gold
Technical Analysis:
Previous 2x Falling wedges resulted in a price rebound within the trend channel and this 3rd falling wedge should not be any different.
Long term, GOLD is also on an uptrend, i see very little downside.
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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.
Disclaimer
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.