Doom or gloom, we will see 2k first. And above 2k later.
REASONS
Investors betting on Biden to bring economic recovery would come to realization of inflation. And the need for safe haven has not diminished yet with new lockdown likely to come in US due to increase virus cases and new strain. Also December seasonality for GOLD accumulation has not faded.
If 1930 fails to hold after 2k then we may have found a way to manage the virus by end of February lockdown in UK/US.
NOTE: This is just a wave count for DOOM scenario, the gloom is still intact in the link below
REASONS
Investors betting on Biden to bring economic recovery would come to realization of inflation. And the need for safe haven has not diminished yet with new lockdown likely to come in US due to increase virus cases and new strain. Also December seasonality for GOLD accumulation has not faded.
If 1930 fails to hold after 2k then we may have found a way to manage the virus by end of February lockdown in UK/US.
NOTE: This is just a wave count for DOOM scenario, the gloom is still intact in the link below
Comment:
.....the boom (not gloom*) scenario is still intact - pardon my typo in the "note" above.
Comment:
CFTC report on Gold Futures show steady increase in the trend in December and dropped slightly on the first business day in 2021 (Jan 04) report, the next day gave a tiny reversal candle at the resistance before the market sold Gold. Before end of business on Friday (3.30 ET, Jan 08) the report came in like a buy back and top all December data. Don't be surprised if Monday gapped and the week runs bullish to 2k.
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