gpeter991
Corporal
- Messages
- 73
well, if you look at gross purchase level of central banks in 2010-2019, you would see even from 2018-2019 (1375 level) until today - a lot of tonnes purchased, so I guess even the massive global rate cuts/devaluation/money printing a bank cannot allow to devaluate these positions - hence such lows you are mentioning seem also a doom for banks... and thus difficult to imagine. I d rather believe 1400 lows and up...I still think gold should drop to 1375 into 4th of ending diagonal and proceed into new all time high but scarry times could turn gold down and below 1046.
Gold - Big TF
On TFs H4 and lower I agree with Sive that gold could drop into W&R but this leg down could turn into 3ED not in BFlat.