Gold to fall a further $100. Is $1700 in sight?
This analysis looks at the analog comparison in the gold price performance over the period of August 2016 to May 2017 to current price performance. (the last US presidential election time-frame)
Similar trends are taking shape. If it plays out as in 2016 we could see another $100 drop in the price of gold . This would take gold to around $1700.
Similar trends are taking shape. If it plays out as in 2016 we could see another $100 drop in the price of gold . This would take gold to around $1700.
Most probably the uncertainty post-election, and then further uncertainty around the Capitol riots kept gold higher for longer.
The re-test of the $1675/$1700 support should be in soon, and then the resumption of the upward price move (QE, inflation, low real interest rates) for gold to lead the next commodities supercycle.