Gold - Cup & Handle
Updated
Not a Gold Bug, but look at that Chart.
Gold has not seen serious attention within the bull moves of 2020 & 2021.
Maybe it is time for a revisit now - we will follow up with this idea on weekly basis.
Gold has not seen serious attention within the bull moves of 2020 & 2021.
Maybe it is time for a revisit now - we will follow up with this idea on weekly basis.
Note
With todays FOMC meeting and the global situation/war in east-europe becoming more clear:It seems Russia and China try to decouple from the Petro-Dollar and looking to setup their own settlement layer for global transactions, away from SWIFT
The Saudis agree and with most of US manufacturing happening abroad, the idea of a new system of reserve currencies seems to become more obvious for many in the markets.
Next to a potential basket of FX and Gold as a back-up, this could bring much needed relief for US debt and a bullish season for GOLD heading into a recession.
"Paper" Gold is looked at as very obscure and countries will race to secure substantial reserves over the next year. We see a shift of the empires in this world: Eurasia, Russia and China seem to have prepared this move for some time and it would be no surprise to see GOLD rise up heading into a recession for some markets.
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