$XAU $GLD $USD
Central banks worldwide are committed to suppressing interest rates and printing money to solve their nation’s debt problems. Eventually, they will be forced to default or devalue, they will devalue.
Gold forms a major bottom every 8-yrs. The last low came in Y 2016. The next one should come in Y 2024.
In the long-term
An A=C measured target supports a price objective between $7500 – $10,000 sans any wild speculation, and that may happen.
My work shows that gold is going much higher, and today’s investor/buyer should be happy going forward.
“Gold has always been looked at as a safe investment over the long term and has always been part of a sophisticated investor’s diversified portfolio because it is considered a counter hedge to the US Dollar and the volatility of the stock market. Over the 15 years from 2005 to 2020, the price of gold has increased by 330%. Over the same period, the DJIA increased by only 153%. Experts, at today’s price of $1897.50, are predicting a $3,000 per ounce for 2021 – 2022,” says professional gold investor Bruce WD Barren, Chairman of The EMC/ Hanover Group.
Have a healthy week, Keep the Faith!