This Gold Run is Absolutely Insane: $GLD $GCmain

TechnicalHunter
09-29

$Gold - main 2512(GCmain)$ $SPDR Gold Shares(GLD)$ just made its 38th all time high of 2025 with gold futures now up +43% year-to-date.

This puts on gold on track for its best year since 1979 as the Fed cuts rates into 3%+ inflation.

Gold is about to surpass US Treasuries as the main reserve asset held by central banks worldwide for the first time in 30 years.

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Gold price one year ago: $2601, Now: $3843

If gold prices fall back to around 3800, we can continue buying.

Support is around 3780, and resistance is between 3820 and 3850. These are my current thoughts and analysis.

The target is 3810-3815. If gold breaks through 3820 again and holds, I believe it will continue to rise.

In shorterm, the Gold could potentially overshoot to $6600 target...

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However, the Long term Target set to $15,000/oz by THE NVSTR | TRADING & FINANCE @TheNVSTR

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Unbelievable right?

Hold steady first.

Silver Another High: Continue to Outperform Gold in This Bull Market?
Silver prices have surged to a historic high, breaking above the peak set during the dramatic short squeeze in the London market this October. Gold has broken out of its consolidation range and is now poised to challenge the $4,300 level. With rate-cut expectations rising, can gold return to new highs in December? And is silver’s new record a positive signal for the market?
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • King19
    09-29
    King19
    Why not? It’s a crazy world… filled with greed!! Bitcoin which is literally worthless without even an object to be touched can hit 119k… why gold cannot??? You just need a convincing salesperson to hot sell it.
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