Gold to 2800 Part 2 (Macro Call)

A macro call refers to one that will not occur immediately or in the short-term. It is tied in to a long view of both the stock market and economy. Typically a macro call I forecast will take months to years (usually no longer than 2yrs).

Since Part 1 -

Gold has broken out of the bull flag, taken a breather to back-test the breakout line and is now launching upwards on news of potential additional bank failures [bull flag confirmed]. Very encouraging for gold investors.

Oil has also slid recently and going in to a recessionary environment, oil demand will continue to weaken in my view meaning lower operating costs for gold miners. A big plus for them.

My 2 favorite gold miners with excellent weekly & monthly bullish chart set-ups:

Barrick Gold (25+ PT)