Currently it is still possible to push gold lower before "To the Moon".
That is where I agree with you. Because the whole pack of assets can go lower new few weeks. If "they" want to remain in control and power. Of yields and inflation outlook and inflation sentiment. And pitch forks. You surely know easily and how fast pitch fork eruptions can happen. High prices for food and daily essentials is just the right recipe.
Though maybe some big players exactly that (prices to da moon, pitchforks into the streeets, so they an throw another government or region under the bus) want to happen.
Time will tell. We will shortly know.
But 1600 is just in sweet smoke in mirrors.
Of course only IMHO.
What happens to gold still depends on the whims of the big players.
The value of gold is like for a Crypto. As it has few industrial uses, it's intrinsic value is your hope that someone else will buy/sell it from you at higher/lower prices.
The only legitimate reason for gold to fly higher at current times, is the public Cryptomania mentality that prices can go to the Moooon.
This is the mentality Elon Musk was cultivating among the silly masses, and on which he capitalized.
So if a nothing can go to the moon, why gold should not go to the moon too?
Currently it is still possible to push gold lower before "To the Moon".
RF ... and you might also see 1001 wonderful girlies and milk and honey and sweet dreams surrounding you in heaven.
But I'm with you that these days are an extremely important time frame. Either some assets come down 15-25% within day(s) - or they will fly another 20-30% higher - just to crash down even more thereafter.
This is a time to be quite cautious - and not to be leveraged - until the next trend is born again. Very shortly.
Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
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