Gold Surges to New Highs: Will the Rally Continue or Reverse?

18. Aug.

By reviewing the latest #Gold chart on the 4-hour timeframe, we can see that on Friday, after reaching the target zone ($2471 to $2477), the price experienced only a brief negative reaction, which was quickly recovered, and finally managed to establish a new high, rising to $2509! Currently, there are no signs of a price reversal in this timeframe. To better predict and analyze gold's next move, we need to wait for a reversal pattern to emerge. Don’t rush into trading; wait for the price to stabilize! This analysis will be updated tomorrow before the New York session begins.

This fast rise to $2509 relates to a prediction I made back on the 4th of December 2023, when gold was trading around $2067. At that time, I forecasted that gold might reach $2500 within the next five years. Yet, here we are, less than a year later, and gold has already hit that milestone!

The speed at which this has happened has surprised even me. Over the months, we have seen several global events rapidly changing and increasing gold demand through:

• Geopolitical Conflicts: Everlasting wars and increasing tensions shifted investors' interest to safe-haven assets like gold.

• Political Instability: Shifting powers and unpredictable political landscapes make gold an attractive option.

• Changes in Geographies: Global geopolitical realignments and territorial disputes have contributed to market vagaries.

• High Global Inflation: The world has experienced great levels of inflation, making more and more people use gold to hedge their wealth.

• Rising Consumer Prices: With prices soaring, gold has proven to be a favorite store of value.

All these and more have combined to accelerate the rate of growth in gold well beyond our initial expectations. This is a very clear reminder of how uncertain the markets are and why we can only get ahead with constant updating of knowledge to new, adapting social and economic conditions; otherwise, we fall far behind.

Let's continue to be well informed, adapt quickly, and catch the opportunities that are likely to come across us on our way. The future is so unpredictable, but with the correct mindset and strategy, for sure, we will certainly find our way through!

For further context, check out my original analysis from December (2023) ! just click the chart below to dive in!

Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !

Best Regards , Arman Shaban

((2+4+7+13+15+18+26+36+38+69+87+101+183+209+1000+1002+1000000000+1000000001+ 1000000853)^♾️*69) + 1 !