Gold on the cusp of something big and it looks to have big upside potential. There is a lot of specualtion surrounding gold at the moment. Will it crash with the stock market, will it rise with interest rates being lowered in US and lower dollar. Chart suggests we are more likely to head up this time.
Clear divergence between USD (DXY) and Gold$ for most of 2022. Perhaps a weaker Dollar will lead to a stronger Gold price. We are certainly in the window for seasonal gold purchases and US interest rates have been raised agressively perhaps a pause in rate rises is now due
A simple Elliott Chart suggests a GBPZAR exchange rate of somewhere around R15 to the Pound in the coming months. I would suggest this would be a case of Pound weakness rather than Rand strength. Lets wait and see
