The case for Gold as a hedge against inflation can certainly be made in these uncertain times. Especially with the government printing 2.2 trillion in aid with trillions more almost certain to follow as they attempt to revive the economy or at least mitigate the number of business bankruptcies. Those interested in selling their physical gold i am sure are not keen on venturing out during the Covid 19 pandemic either which should further increase demand. The current scarcity of physical gold has even been compared to finding toilet paper.
What i find really interesting however is the large bull flag that appears to be forming on the daily chart. If this pattern were to break out it could take us straight into resistance near the $1800 mark in relative short order.
What i find really interesting however is the large bull flag that appears to be forming on the daily chart. If this pattern were to break out it could take us straight into resistance near the $1800 mark in relative short order.