Technically speaking, I see this giant ellipse which I believe encircles all the possible movements of the precious metal, approximately within the next 25 years.
(900-1000 USD to 2000-2100 USD).
Fundamentally speaking, gold needs "to gain its new ground in the new game". There have been thousands of changes; crypto, high-tech industries, men sending shuttles to planet Mars....
Gold can no longer play the "simple role" of a safe haven asset. The market is no longer a place for simple holders, it's a place for innovators, for those who push the boundaries; and gold, this charming metal, needs some time to fluctuate, to let the new market reassess its value, and to let itself find its role in the new game.
Therefore, to me, fundamentals are aligned with technicals.
(900-1000 USD to 2000-2100 USD).
Fundamentally speaking, gold needs "to gain its new ground in the new game". There have been thousands of changes; crypto, high-tech industries, men sending shuttles to planet Mars....
Gold can no longer play the "simple role" of a safe haven asset. The market is no longer a place for simple holders, it's a place for innovators, for those who push the boundaries; and gold, this charming metal, needs some time to fluctuate, to let the new market reassess its value, and to let itself find its role in the new game.
Therefore, to me, fundamentals are aligned with technicals.