No question in my mind we may see a formation of a double top before it enters the bear market.
Of course, no one can predict future prices of gold in the 6 months to 5 year period. But speculation is what drivers the market.
My personal argument for this move would be the formation of a double top, and the seemingly rising inflation may have its course on this metal. "as inflation makes things more expensive, gold becomes more expensive. Unlike many assets, gold grows in value as our money becomes declines in value. And historically, it does so very reliably".
so the big question for this prediction lies on ARE WE IN THE AMIDST OF RISING INFLATION?
IMO Yes.
p.s not a comprehensive analysis at all. just a whim and personal experience.
Of course, no one can predict future prices of gold in the 6 months to 5 year period. But speculation is what drivers the market.
My personal argument for this move would be the formation of a double top, and the seemingly rising inflation may have its course on this metal. "as inflation makes things more expensive, gold becomes more expensive. Unlike many assets, gold grows in value as our money becomes declines in value. And historically, it does so very reliably".
so the big question for this prediction lies on ARE WE IN THE AMIDST OF RISING INFLATION?
IMO Yes.
p.s not a comprehensive analysis at all. just a whim and personal experience.