1. gold started a rally in 2011 because of some specific issues , One of the most important of them was the government debt issues in huge countries like united state and Europe countries , so that situation forced the investors to start buying gold , beside of this The dollar index was also weakening so this also supported the price of gold , and today the same thing exactly happen to government because of covid 19 pandemic that forced them to spend their money for a massive stimulate packages to keep their economy alive and it must continue until the pandemic over , and the difference between the 2011 and 2020 governments dept is : 2011 issue was for a short period of time but the 2020 issue started when the pandemic began in January and It is getting worse day by day , no one knows when will it finish , beside if the disease end soon , the governments must to spend another huge money to rebuild the damaged economy from crisis and this thing will increase their problems like debts . so we can expect for a new high in the near future with series of Small correction
There are a number of other important issues that are driving up the price of gold, which we are not discussing today , like Tension between china and united state ,
2. in technical view , in these days we can't expect Severe fall like 2011 after hit the all time high because in 2011 price moved up very sharp and Emotional without any logical correction , but 2020 moves are different and logic .
There are a number of other important issues that are driving up the price of gold, which we are not discussing today , like Tension between china and united state ,
2. in technical view , in these days we can't expect Severe fall like 2011 after hit the all time high because in 2011 price moved up very sharp and Emotional without any logical correction , but 2020 moves are different and logic .