Safe Haven? Gold Prepares for Multiyear Descent
Appearing to be within an internal C wave, within a Primary Wave 4 correction, I expect Gold to slowly lose momentum over the next year. Anticipating a 2022-2023 retest of the higher $1800 range, without securing a high above the $1917 price point, all that the pump brings will be in vain. Based on my current assessment of XAUUSD, I predict that the value of this metal will return to pre-2020 levels (below $1400). Support should be discovered in this range; if so, XAU may then be ready for yet another ATH.
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