I would like to see a nice selloff the weekly charts, it would be bullish. The fundamental case for Gold, Silver, other commodities almost couldn't be better. The fed said they were going to normalize interest rates and shrink their balance sheet, neither happened. We got qe infinity = Gold/inflation infinity. After Trump unfortunately there is a high probability Biden will win. Biden and the socialist philosophy congress will probably have control of house and senate as well and because republicans have already falsely said that stimulus checks/helicopter money/universal basic income is good. There will be no opposition to whatever socialist laws they come up with. All the prosperity America has had will be lost and we have no manufacturing, no economy, and all we have is the printing press. Once the bond market bubble pops and interest rates skyrocket all the debt will either have to default, or hyperinflation. If we defaulted tomorrow and had a deflationary reset, Gold would already have to be above $10,000 an oz, but eventually we will get there and higher anyway. If we go the hyperinflation route there will be no ceiling on interest rates and no one will want to buy our bond the fed will continuously have to monetize tens of trillions in debt. The idea that we can live above our means and run deficits to infinity, will be disproven with severe consequences.
