Gold Price Forecast – The Last Great Buying OpportunityGold recently confirmed a new bull market. The current cycle likely peaked last week after surging nearly $300. The technicals favor a multi-week correction into October/November and what may become the last great buying opportunity.
One of the best times to buy any asset is just after a multi-year breakout. In my article Price Forecast for The Next Decade, I explained how precious metals were positioned to be the best performing asset class during the 2020s. That transformation remains on course as Governments transcend the limits of quantitative easing.
Negative interest rates are turning financial models on their head. In Denmark, homeowners can get a 10-year loan at -0.5% interest. Yes, the bank is paying them to borrow. This trend is unsustainable. The next step is debt monetization and currency depreciation, and that is the ideal environment for gold.
MULTI-YEAR BREAKOUT: The initial breakout rally reached our primary resistance level. Next, we should get a multi-week cycle decline back towards the $1380 breakout zone. We may be approaching the last great buying opportunity.
AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle. For more information, please visit https://goldpredict.com/