The US government’s bungled meddling in Ukraine and Gaza is likely to be the main catalyst that drives gold out of the drift pattern and towards the $2400 zone.
Gold could digest its gains for a while, but pushing up to $2,000 soon could lead to an imminent breakout. That breakout is what all miners and juniors need.
Rather than focusing on economics and geopolitics, there must be a better way to forecast the stock market. There is, and it is based upon a view of market sentiment.
Gold and silver fell in Asia on hopes of a peace in Israel. Only peace will cause a temporary sell off in gold and silver. If not then, price will be very volatile.
There are no major US economic data released this week. Israel, its new developments and significant change in geopolitical shift will dictate price of gold, silver, and crude oil.
Gold's rally was safe haven buying but U.S. treasuries also rallied (prices rose, yields fell) as they too are a safe haven. The stock market's next move is open to interpretation.
Gold remains ridiculously undervalued at 1946. This is -48% below the Dollar debasement value of 3725. Given historical price-to-value reversion, 3725 shall eventually be reached.
