Gold Price Is on a Big Leg Up Toward 3000+ Despite This Week's Correction

Gold Spot US Dollar News

Gold Price Is on a Big Leg Up Toward 3000+ Despite This Week's Correction
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Commodities Analysis by Gary Tanashian covering: Gold Spot US Dollar, Silver Spot US Dollar, Gold Futures, Silver Futures. Read Gary Tanashian's latest article on Investing.com

I found this on X as for some reason someone just ‘liked’ it yesterday and it showed up in my notifications. So it’s an opportunity to highlight a 3+ year old call that will be right if1) The handle actually got sloppy and morphed into a bullish pattern, which we targeted to 2450, long-since in the books. 2) The handle hit the low 1600s as its lows, during the post-Cup grind. 3) The answer was years, but now we are within months, if not weeks.

One new macro rule? The disinflationary trends in bonds that supported the inflationary bubble making machinery for several decades have been ruptured. Ah, but that discussion is beyond the scope of this article. We should also consider how the miners are performing with the above indicators theoretically positive for the macro fundamental case. TheGold Bugs index is doing just fine in relation to gold since March. That is an intact positive internal sector indication. Gold stocks are also on message while out-performing the vaunted US stock market bull over that same time period.

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