Gold $2,000 by election day
Gold behavior is strongly influenced by fundamentals at this time, often in the face of technical analysis. That said, there are several support levels in the 1,600-1,700 range that could easily be tested. However, the unprecedented fiscal and monetary policy actions will only increase in scope between now and election day and I expect a gold price above $2,000 by that time. There will be consolidations along the way and any pullbacks of 5% or greater should be accumulated. Also, each investor should have a base exposure to gold, so I recommend to have a minimum allocation of 10% of portfolio assets which should be accumulated quickly if not already done. Allocations above 10% should wait for pullbacks.
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