Will Gold collapse?
We can see how clearly the price reacted to the Fibonacci levels, and now Gold is at an extreme level. I assume that 2023 was the best year for Gold. And in 2024, we can expect a drop to at least 745 level.
The next Fibo level is 385 but something tells me that the price will roll towards the low of 2000s - below 254.
And the most impossible scenario is when Gold will completely devalue (-27).
For several months now, I've been asking myself: what should happen globally in the world for the most stable investment instrument - Gold, to drop like a brick? I don't know. Write your ideas in comments 'what can cause drop of Gold?'.
Let's see what 2024 will bring us :)
The next Fibo level is 385 but something tells me that the price will roll towards the low of 2000s - below 254.
And the most impossible scenario is when Gold will completely devalue (-27).
For several months now, I've been asking myself: what should happen globally in the world for the most stable investment instrument - Gold, to drop like a brick? I don't know. Write your ideas in comments 'what can cause drop of Gold?'.
Let's see what 2024 will bring us :)
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