GOLD: will 1980-2001 be repeated? USD is the key.
It seems that similarities between now and the 1980s are becoming real:
Right now the MAs and RSI are comparable to 1986. Immediately, it appears that a bump to $1370 is possible.
However, in the coming decade, it remains uncertain whether the $1900 high can be reached again without a historic event such as large-scale quantitative easing.
Whatever happens, US dollar is likely to be of higher importance than gold itself: in other words, for XAUUSD to go up significantly, there must be a crash in the value of USD. It is possible for this to be caused by the end of petrodollar, as major economies become less reliant on fossil fuels and oil producers diversify their trading policies.
As of now, neither of these factors are mature enough. Therefore, while in the short-term GOLD can go up a little, in the coming years it is unlikely to produce strong returns.
Right now the MAs and RSI are comparable to 1986. Immediately, it appears that a bump to $1370 is possible.
However, in the coming decade, it remains uncertain whether the $1900 high can be reached again without a historic event such as large-scale quantitative easing.
Whatever happens, US dollar is likely to be of higher importance than gold itself: in other words, for XAUUSD to go up significantly, there must be a crash in the value of USD. It is possible for this to be caused by the end of petrodollar, as major economies become less reliant on fossil fuels and oil producers diversify their trading policies.
As of now, neither of these factors are mature enough. Therefore, while in the short-term GOLD can go up a little, in the coming years it is unlikely to produce strong returns.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.