Gold Breakout Puts $4,900 Target Back On The Table - Yellow.com
Gold Breakout Puts $4,900 Target Back On The Table - Yellow.com
Source: Yellow.com
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DW NOTE
Gold was at $2,700 twelve months ago. A $4,900 target implies an 81% rally from there. The Hormuz closure has been in force for 132 days, oil supply is down 4.3 million barrels per day, and the metal is already at $4,690 — up 74% year-on-year. The technical projection isn't the story. The story is what happens to monetary policy when half the Gulf can't export and central banks can't tighten without cratering what's left of trade.