IS GOLD FINALLY STARTING A NEW MARCH TO $2,000 $GLD
After the long awaited rally in gold, investors are asking me the natural question, “Is this the start of a new march for gold to $2,000?” Let’s explore some of the most important factors in determining the answer including the three events, two charts and the next big event. At a time like this, it is important even for macro based investors to pay special attention to the charts.
Three Events
Three recent events have accelerated gold’s rally.
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- European Central Bank (ECB) unexpectedly turned more dovish than the consensus.
- The Fed followed the ECB with a dovish message.
- Iran shot down an unmanned U.
June 24, 2019