Gold cycles
Red price channel = 7month decline (delayed quantitative tightening monetary policy due to Russia invading in February 2022, March 2022 FED implemented rate hikes 25bps then 75bps to tackle high inflation)
Blue price channel = potentially the new bull trend (FED more dovish, “inflation may have peaked”, lowering from 75bps to 50bps for December’s upcoming FOMC meeting, lower rate hikes/pausing rate hikes for some time before lowering them for the next monetary policy cycle of quantitative easing, FED could cause stagflation in place of inflation - slow growth + low employment + high inflation = good for gold)
The price surge is also a mix of China no longer in covid-19 lockdowns & then going back to lockdowns (China opens up will have an immense positive impact on gold).
Then there’s all the drama with crypto exchanges going bust (fear of other possible exchanges going bust caused mass panic, withdrawing from crypto to safe haven inflation hedge gold… not Bitcoin, the one and only gold)
Well that’s what it kinda looked like but not too sure how much price has moved since writing this mumbo or if it holds useful for data releases & speeches in the future to see if this premature channel serves correctly.
Afew key support and resistance levels marked in purple lines.
Blue price channel = potentially the new bull trend (FED more dovish, “inflation may have peaked”, lowering from 75bps to 50bps for December’s upcoming FOMC meeting, lower rate hikes/pausing rate hikes for some time before lowering them for the next monetary policy cycle of quantitative easing, FED could cause stagflation in place of inflation - slow growth + low employment + high inflation = good for gold)
The price surge is also a mix of China no longer in covid-19 lockdowns & then going back to lockdowns (China opens up will have an immense positive impact on gold).
Then there’s all the drama with crypto exchanges going bust (fear of other possible exchanges going bust caused mass panic, withdrawing from crypto to safe haven inflation hedge gold… not Bitcoin, the one and only gold)
Well that’s what it kinda looked like but not too sure how much price has moved since writing this mumbo or if it holds useful for data releases & speeches in the future to see if this premature channel serves correctly.
Afew key support and resistance levels marked in purple lines.
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