Short-Term Peak In Gold?

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Reviewing the potential for a short-term corrective pullback in the precious metals, within a much larger very bullish pattern that is underway. We start off by getting some support and resistance levels to note in gold, but then within the handle, of the larger decade-long cup and handle pattern, there is a smaller cup and handle pattern developing.

Next, we looked at how the precious metals have underperformed many other commodities that have been ripping higher due to inflationary pressures and the geopolitical tension in Ukraine.

There are different potential paths forward for gold and silver, if higher inflation and negative real rates are persistent, how the 2 metals may react to that scenario. However, I pointed out an area of concern that with the Fed hiking rates, as the yield curve has now flattened and nearly inverted, this could induce a recession in the next year, which would hurt commodities and have gold outperforming silver.

Video Length: 00:17:09