Gold should have been trading between $2000oz and $3000oz ever since the 2008yr financial crisis. I view the current gold pricing as an upward correction. The $2200oz target for 2024 has been supassed and is now support. If the current trends continue gold can hit the $2700oz mark before year end. Current global conditions and investor perception, there is limited risk to the downside for gold at this time. If we hit $2700oz I would rebalance, take some profit, yet still hold a gold position. The USdollar is trading at $DXY104 to $DXY 106, the high end of it's 20year trading range. Despite this strength in the USdollar, gold has moved upward to $2400oz level. If interest rates come down in the back half of the year this will a kicker for gold to go even higher. cup and handle formation.. if u see the chart .. i dont know how to read it but it looks so nice.. if we climb up we can see 225 again.
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