Reversal of $DXY may have put a floor on #gold $GLD $UGLD $NUGT
The otherwise bearish gold chart may not touch down on $1400 to $1420 as many expected it to.
Trade wars and tariffs along with the debasement of all fiat currencies may trigger the return to higher gold prices. Gold bugs who have been frustrated again and again over the last 5+ years may now see another large scale move as short positions are covered heading into the end of the year. The long-awaited event may be at hand.
Goldman Sachs says gold is going to $1,600
kitco.com/news/2019-10-03/Gold-is-going-to-1-600-next-watch-the-perceived-risk-of-recession-Goldman-Sachs.html
Here is what that might look like. Otherwise, look for support around $1415.
Trade wars and tariffs along with the debasement of all fiat currencies may trigger the return to higher gold prices. Gold bugs who have been frustrated again and again over the last 5+ years may now see another large scale move as short positions are covered heading into the end of the year. The long-awaited event may be at hand.
Goldman Sachs says gold is going to $1,600
kitco.com/news/2019-10-03/Gold-is-going-to-1-600-next-watch-the-perceived-risk-of-recession-Goldman-Sachs.html
Here is what that might look like. Otherwise, look for support around $1415.
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