..what if China is embarking on a mission to rid of its USD reserves by swapping with Gold?
..serves three objectives - 1. getting out of USD before its eventual demise (everyone seems to be unanimous on this) 2. building Gold reserves (who has the gold calls the shot) 3. indirectly hurting the US. Its already happening with US citizens rushing to buy Gold at Costco!
..watch what Gold and Silver does during China trading hours.
..if the above is true, this gold rally has legs,...and it could be a remarkable upside trajectory.
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Gold Monthly Chart Back in 2009 and 2019, gold rallied 25% and 15% respectively post breakout until a pause for consolidation. Gold already gained 13% since March 2024. Although pullback could arrive anytime, it is quite possible that it rallies until $2,500 mark producing 20% post breakout. After all, 20% rally after 4 years of suppression is not that much. Tough call...
