Gold has been in a downtrend since August 2020. Investors are turning bearish, and we could see a selling climax in the coming days. Our gold cycle indicator is near its maximum bullish reading, and we expect a bottom forthwith.
It’s important to note that gold is approaching its pre-Covid (February 2020) high of $1700. I doubt prices will stay in this area for long, with trillions of dollars printed since.
GOLD DAILY: Gold is nearing support between $1700 and $1765. Our work expects a bottom in the coming days. Buying anywhere near the pre-COVID highs is a fantastic opportunity, in my opinion.