Gold's bullish trend has worked well in 2020, so what is next over the immediate 3 to 6 months? Will we continue to see a golden future.
The US dollar had been strong into COVID 19, since then the Fed has printed a lot of money, and they are also considering YCC (Yield Curve Control), last seen during WW2. [Note YCC lasted 9 years over WW2. WOW, that is a lot of money printing.]
The Fed is now forecast to overtake competing central banks balance sheets in size, and the release valve will be a falling US dollar. Therefore we should continue to see the US dollar maintain is a slow leak down over the next 3 to 6 months, say on the DXY 82 to 88.
Also, US election worries will add to the weakening of the dollar. Of course, extreme chaos in Washington will accelerate the US dollar decline.
The US dollar continues to follow its time cycle (reposting of chart).
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These Gann Angles on gold (GLD ETF) high light the BULL and BEAR plays. If the US dollar continues to fall then the light yellow box should be considered as a target to take profits.
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