Gold Set to Soar POST-Fed on WednesdayAs I posted in my last "idea", I noted that given the virtual inevitably of monetary policy easing around the world and the race to the bottom for currency devaluation - beginning in this last quarter of 2019, and through 2020 (beginning with the United States) to drive the markets higher - Gold and Silver are set to rise.
Before Gold reaches 1500 I am eyeing some key retracement levels (noted by the red circle), including when we reach near 1450 +/- 3pts and again near 1490 +/- 5pts. Once we break 1500 I am expecting some very quick moves with the likely possibility of 1700 near Halloween.
There will be a ton of movement in Gold beginning in the last 2-3 trading hours of the US markets for Wednesday, and it is not out of the question for us to reach 1500 by the end of this week.
Until then, through Monday night into Wednesday morning I am expecting Gold to hover near 1424 +/- 6pts (on avg).
I place an overall long-bull and high confidence level of records being broken in Gold by the end of Q2 2020. It is my strong belief Gold will not go below 1400 for approximately 2 years.
- zSplit
