Gold 2024: How low can it go?

[Bumble]

The gold price stays within the Bollinger bands nearly all the time. We have just bounced off the bottom. RSI is below 50 and the MACD is negative, so momentum is downward. These things have little predictive value though. The price could slide down the band or bounce back up to the top.

On a macro basis, things are more positive. The Fed will not let a recession happen in the run-up to a US election. If the economy turns down, they will reverse the monetary tightening, even if inflation is still above 2%. That will be negative for the USD and positive for gold and crypto.

[Kitalon]

That's really useful to know. It's good to see how gold has behaved over the past year but I think it's also insightful to go back 3 - 5, even 10 years ago see the longer-term trend. Do you think gold will eventually plateau?

Edited January 19 by Kitalon

[BLOOMMAN101]

5 minutes ago, Kitalon said:

That's really useful to know. It's good to see how gold has behaved over the past year but I think it's also insightful to go back 3 - 5, even 10 years ago see the longer-term trend. Do you think gold will eventually plateau?

Your guess is as good as ours mate  imho

[ArgentSmith]

3 minutes ago, Kitalon said:

That's really useful to know. It's good to see how gold has behaved over the past year but I think it's also insightful to go back 3 - 5, even 10 years ago see the longer-term trend. Do you think gold will eventually plateau?

Most likely Gold will tank after a blow off top, thats how most markets change direction very few plateau. Personally I think gold has another leg up to come according to elliot wave theory the final big kahuna is building imo providing we hold above $2k. Could easily double over the next 3-4 years, most of the action coming towards the end of this multi decade bull run.

It will all make sense in a few years looking in the rear view mirror lol