Gold is set to rise - Bullish Momentum Ahead!
Welcome to another analysis, where we dive into the latest market trend and chart the potential path ahead for GOLD!
So is gold a good long-term investment? In my view, the short answer is YES.
Gold is likely to continue rising in the coming years due to several fundamental factors. Firstly, ongoing global economic uncertainty, including inflation concerns and geopolitical tensions, often drives investors toward gold as a safe-haven asset. Central banks around the world are also increasing their gold reserves, reflecting confidence in its long-term value.
If we examine the consolidation period between 2016 and 2019, we can see that the breakout from this consolidation initiated Elliott Wave 3.
What's particularly noteworthy is how well the technical indicators have aligned throughout this process.
The Fibonacci extension tool accurately predicted where gold would peak in 2020. After reaching that peak, gold entered a new period of consolidation and sideways movement as we moved into the new years.
Once again, it appears we've entered another phase of Elliott Wave 3 and will probably soon have a minor correction or sideways time period before going into wave 5.
Looking ahead, my long-term projection for gold suggests a potential peak between $3,200 and $3,500, likely around 2026.
Only time will tell!
Thanks for reading, and make sure to follow me here on tradingview and on X for more updates as we progress: @PuppyNakamoto
GOLD GOLD GOLD1!
So is gold a good long-term investment? In my view, the short answer is YES.
Gold is likely to continue rising in the coming years due to several fundamental factors. Firstly, ongoing global economic uncertainty, including inflation concerns and geopolitical tensions, often drives investors toward gold as a safe-haven asset. Central banks around the world are also increasing their gold reserves, reflecting confidence in its long-term value.
If we examine the consolidation period between 2016 and 2019, we can see that the breakout from this consolidation initiated Elliott Wave 3.
What's particularly noteworthy is how well the technical indicators have aligned throughout this process.
The Fibonacci extension tool accurately predicted where gold would peak in 2020. After reaching that peak, gold entered a new period of consolidation and sideways movement as we moved into the new years.
Once again, it appears we've entered another phase of Elliott Wave 3 and will probably soon have a minor correction or sideways time period before going into wave 5.
Looking ahead, my long-term projection for gold suggests a potential peak between $3,200 and $3,500, likely around 2026.
Only time will tell!
Thanks for reading, and make sure to follow me here on tradingview and on X for more updates as we progress: @PuppyNakamoto
GOLD GOLD GOLD1! 
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