gold, page-78979

Gold continues the charge it started 18 months ago.

As others have indicated, price now in a wedge consolidation, as part of a longer term bull trend. In my few years of trading, this is the most bullish pattern I've come to know. Big successful traders I've read or seen interviews with absolutely froth at this pattern. The moves that follow the eventual breakout can be huge. It will be even more bullish if the consolidation continues longer. Pent up then BOOM like a puppy at the dog park.

It really is a perfect storm for gold:
- currency debasement and pressure on money systems globally.
- no competing yields
- no severe depression
- geopolitics

I see two scenarios:
1. What we have now continues for a time; low interest rates, markets grinding sideways or slowly up on CB life support. Perfect storm for gold.

2. We get a genuine depression for the medium or long term. Gold will be sold off too, but then again maybe not so badly considering other factors like how healthy money systems are looking, geopolitics and whatever else (we saw the physical demand surge during covid). However, given the amount of money printing, this does not preclude gold from a great long term buy right now. A depression may not come for a year or two yet either (or could come next week, heck). Notwithstanding gold bullish long term.