We’ve seen gold surge significantly during times of uncertainty. The problem is, when we look back at the 2008 financial crisis, we notice a similarly exponential rise, which was followed by a 45% correction after reaching its peak. Based on a current price of $3,400, a correction down to $1,800 is possible. This means it’s very realistic that gold could spike again sharply—especially if Powell ends up being fired—and then, once things start to calm down again, we could see a major correction of at least 45%.
Building and managing multiple projects | Trader & Analyst with 5+ years of experience
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Building and managing multiple projects | Trader & Analyst with 5+ years of experience
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.