I need investing in gold for diversifying my long term portfolio, but:
High inverse correlation between gold and US real interest rate. If US real interest rate up, gold is down
US real interest rate is at a botton of rectangular pattern and could be technicaly raising.
US real interest rate could be raising by these fundamentals also:
US real interest rate is Bond 10 Years Yield (US10Y) minus the expect inflation to be in the next 10 years (T10YIE)
US10Y is lossing an avarage of 2% since 1980 but FED will increase interest rates (USINTR) in small steps (USINTR decennal trendline drawn in the chart could help). So
US10Y could be raising in the short-middle term and also US real interest rate consequencly
Last check the Inflation rate is at max level since 1982 so it could be down in the short-middle term (FED could help on this with increasing of rates).
This also could contribute with the short-middle term rasing of US real interest rate.
For these reasons I think is not a good entry point now for investing in gold for long term. Just I wait a little and stay tuned on these charts for a better entry
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