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TECHNICAL ANALYSIS OF GLOBAL FINANCIAL MARKETS STRATEGIC OVERVIEW OF MACRO ECONOMY & GEOPOLITICS

Gold’s road to $3,400…

My long medium to long term view on gold... PM miners did not really support the rally in metals since gold took off from $2,400 level. Therefore, I believe, gold is setting up to complete the present advancing cycle latest by January 2025 and top just around $3,000 level, which could be followed by a sharp correction all the way back to $2,400 level. The collapse in gold price could be triggered by ending of war between Russia and Ukraine or due to financial or economical reasons. Following the collapse in gold price, a new $1,000 rally bull run could start catapulting gold to $3,400.

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