GOLD eyeing $2800 long-term as inflation runs wild

21 feb 2022

This chart displays Gold (XAUUSD) along with the United States Inflation Rate (orange). The recent developments both geopolitically (Ukraine conflict) but more importantly macro-economically (inflation soaring), have put Gold back on track to its long-term bullish trend ever since it broke free of its 2012 - 2019 Bear Cycle.

As the Inflation Rate shows, we are at the stage of the first major spike (ellipse pattern), which during the past 2 Gold Cycles was seen half-way through the long-term rally (small circles).

In the previous Cycle, Gold peaked on its 1.618 Fibonacci retracement level from its prior All Time High. This Fib is currently at $2785. There's the target for long-term investors.



--------------------------------------------------------------------------------------------------------

** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **

--------------------------------------------------------------------------------------------------------