Chart situation
When we have a look at the chart of the past 10 years we can identify a longterm pattern. After a volatile sideways movement from 2014 to mid of 2019 we saw a nice rise of +50% until 2021. Since then we are again in a volatile sideways movement between $1700-2000.
The big question now is: Can we climb sustainably higher? Can we reach new ATH of $2300, $2500 or even $3000? Well, I am not sure. I don’t believe in much higher prices in the coming years. The demand for Gold as a store of value is decreasing, now that the digital Gold (Bitcoin) is becoming mainstream. And even if we reach for example $2500, that would be only a plus of 25%. That‘s nothing that lets FOMO to kick in, does it? Personally I believe we will stay in the current sideways movement, maybe doing a slightly higher ATH in the coming years but nothing with much upside. $2100-2200 is the most I believe in.
How do you view the chart situation of Gold? Up or down in the coming years?
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