I am writing this because of what I am reading in the MSM lately. Many are delirious. I would say madness as if $3,000 is a sure thing and $4,000 is next @ 100% probability.
Let's remember 2 facts about XAU:
a) even as price goes ever higher, the all-time high for gold price was set in 1980; and, it has never exceeded that price point since 1980.
b) The higher price of gold over time is a reflection of the loss of purchasing power in the U.S. dollar; nothing more - AFTER THE FACT.
The beauty of Harmonic Pattern is that it can 'foresee' or anticipate price movements so much in ADVANCE. If we look at the above chart, the price just 'misses' $3,000 by a few bucks. This is significant!!!
Perhaps more significant is what happened these last few days - the appearance of Trump and Musk, as if by providence - the things they are doing, that make the harmonic pattern 'prediction' above seem more and more likely.
Musk will accomplish what Milei did - cut wasteful spending. Perhaps he will do even better. Just look at Argentina's inflation rate!!! This is because both these gentlemen believed in what Milton Friedman said about inflation.
And Trump said he wants a BALANCED BUDGET!!!
And I think inflation in the US will most likely drop - drastically - like in Argentina.
So what XAU??? Still want to bet it to rise???
Good luck.
Let's remember 2 facts about XAU:
a) even as price goes ever higher, the all-time high for gold price was set in 1980; and, it has never exceeded that price point since 1980.
b) The higher price of gold over time is a reflection of the loss of purchasing power in the U.S. dollar; nothing more - AFTER THE FACT.
The beauty of Harmonic Pattern is that it can 'foresee' or anticipate price movements so much in ADVANCE. If we look at the above chart, the price just 'misses' $3,000 by a few bucks. This is significant!!!
Perhaps more significant is what happened these last few days - the appearance of Trump and Musk, as if by providence - the things they are doing, that make the harmonic pattern 'prediction' above seem more and more likely.
Musk will accomplish what Milei did - cut wasteful spending. Perhaps he will do even better. Just look at Argentina's inflation rate!!! This is because both these gentlemen believed in what Milton Friedman said about inflation.
And Trump said he wants a BALANCED BUDGET!!!
And I think inflation in the US will most likely drop - drastically - like in Argentina.
So what XAU??? Still want to bet it to rise???
Good luck.
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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.