This Gold Run is Absolutely Insane: $GLD $GCmain
$Gold - main 2512(GCmain)$ $SPDR Gold Shares(GLD)$ just made its 38th all time high of 2025 with gold futures now up +43% year-to-date.
This puts on gold on track for its best year since 1979 as the Fed cuts rates into 3%+ inflation.
Gold is about to surpass US Treasuries as the main reserve asset held by central banks worldwide for the first time in 30 years.
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Gold price one year ago: $2601, Now: $3843
If gold prices fall back to around 3800, we can continue buying.
Support is around 3780, and resistance is between 3820 and 3850. These are my current thoughts and analysis.
The target is 3810-3815. If gold breaks through 3820 again and holds, I believe it will continue to rise.
In shorterm, the Gold could potentially overshoot to $6600 target...
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However, the Long term Target set to $15,000/oz by THE NVSTR | TRADING & FINANCE @TheNVSTR
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Hold steady first.
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- King19·09-29TOPWhy not? It’s a crazy world… filled with greed!! Bitcoin which is literally worthless without even an object to be touched can hit 119k… why gold cannot??? You just need a convincing salesperson to hot sell it.LikeReport