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At present that looks a very good call Woteva.
One of the things that gold responds to is anticipation of inflation.
Now countries around the world like China, USA, England etc. etc. coordinating interest rate cuts, making tax cuts and printing trillions of dollars to reinflate their economies and stimulate consumer demand is NOT deflationay.
It is inflationary beyond anything that has been done in the past, because the problems they are trying to inflate away are so much larger than anything encountered before.