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Gold is Bouncing Amid Concerns

Investors and analysts all around the world are concerned that gold does not behave as 'expected' in high inflationary environment.

Those who follow my charts and accept the logic of Elliottwave (or rather wizardry), are prepared for even worse decline later this year. Eventually, gold will rise (stocks too) but the correction needs to be drawn in full.


Meanwhile gold is bouncing as we expected in the previous update and soon we might see different headlines touting gold and stocks as a perfect hedge against inflation. The most vocal ones right at the cliff edge, I guess, sometime in August.


Gold, 3hours

https://www.tradingview.com/chart/XAUUSD/bjyg3Q24-Gold-Update/


Regards,

Denis


Disclaimer:

It is not the intention of this report to give out buy or sell signals or any trading advice. This material represents my view on the markets and shall not be regarded as an invitation to open trading positions. The report and any materials on this site avoid discussion on politics and exist solely to provide an interpretation of what is happening in the financial markets.

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