Gold may be nearing TOP, good time to swing

5 Apr 2020

Based on the historical trend from the Gold price highs during the peak of the housing collapse in 2012 and recovery, in contrast with the macro-economic situation now regarding COVID; it appears the trend may repeat. I estimate a similar high based on flattening global demand, as the pandemic runs its course. I'd estimate going/staying long for now, then entering short within the range of about 13% above its current closing-price (going short @ $1,700 - $1,850) would yield modest returns in the near term. However, I wouldn't bet against gold in the long term and I'd wait for a reasonable reentry price with ideal economic conditions.