The ominous swings of the delicate "safe-haven" asset will reside in the short term as gold approaches it's ultimate arch nemesis, the 1700 level. It will sneakily approach 1700 with few signs of deterrence and enter the 1700 arena like a lion stalking it's prey, waiting for the right moment to pounce. The fragile gazelle (1700 level) will soon realize the pleasant valley it was grazing in was not as peaceful as previously thought, and the chase will begin. The lion (bulls) will be initially relentless as the gazelle runs for it's dear life. As the lion gets inches from it's prey and about to pounce on it's next feast, the lion will trip over a large stick and fall to twist it's ankle, delivering a striking blow... The lion will heal for a few days but when it comes out this time, it will not have time for games from it's prey. Think of a shark smelling blood in the water or the story of David and Goliath or your first win on Call of Duty Warzone. As the final circle is closing and decision time comes for the bulls and the bears, the bears will fall into a deep hibernation, and the bulls will break from their cages with unmatched vigor. Picture Spain's "Running of the Bulls" event. Gold will then live to see another day as it reaches it's next opponent, 1750.
Comment:
Here is my updated outlook for gold:
