It is not about stimulus, vaccines and elections, as many believe. It is about a simple math. Economy is terrible. How can they keep it going after everything that happened in last decades of debt and covid on top? By devalating USD and causing inflation. If they stop, crash in stock market is coming. If not, hyperinflation is coming. Maybe even both of those. What will they chose, USD or stocks, or none of them? Nobody knows. If they save stocks, inflation is coming - good for gold. If they save USD, stock market will crash and investors will sell stocks and rush in safe heaven - gold. Whatever happens, gold is going much higher. Same applies with silver, just with higher potential and volatility. Bitcoin? Not sure. If people stop trusting governments and banks, yes to Bitcoin. But this is unlikely to happen anytime soon. Gold is going up, absolutely nothing else is possible.
Three reasons why gold may go up in the short to ATH.
1) Dems may win the senate which guarantees further stimulus and inflation;
2) January has been a notorious bullish month for gold (8/9 last years up, as banks adjust their portfolios);
3) Gold just broke out of a corrective pattern (3 months) from its previous bull run, and have the momentum to continue. Just may 2 cents.
Three reasons why gold may go up in the short to ATH.
1) Dems may win the senate which guarantees further stimulus and inflation;
2) January has been a notorious bullish month for gold (8/9 last years up, as banks adjust their portfolios);
3) Gold just broke out of a corrective pattern (3 months) from its previous bull run, and have the momentum to continue. Just may 2 cents.
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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.