PCE inflation data out today, watch the Dollar. Gold is battling $2,000 and the market is overbought. Overbought markets does not attract new money. So the market has to either embed or ...
Gold is on the cusp of a major breakout from its super-bullish cup and handle pattern. The measured upside target is $3000/oz, and the log target is roughly $4000/oz.
Gold prices could surpass the record set at the height of the Covid-19 pandemic if ongoing turmoil in the banking sector persists and global central banks downshift..
A potential sovereign debt crisis also looms. Housing is wobbling and commercial real estate is also very shaky. A credit crunch is also looming as banks "pull in the horns".
Like all Ponzi schemes, the epic fraud that has buttressed our economic lives and the illusion of vast prosperity for decades will continue to work as long as asset values are inflating.
