Gold Stocks Could Continue to Move Higher Amid a War Cycle Finale

📆 09/07/2024 03:09 p. m.
📰 Investingcom

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Commodities Analysis by Stewart Thomson covering: XAU/USD, Gold Futures, VanEck Gold Miners ETF. Read Stewart Thomson's latest article on Investing.com

finished last week strongly after the US jobs report was released. It’s soft again ahead of the key CPI and PPI inflation reports .

Because of the huge trading volume on the Western LBMA and COMEX exchanges, gold will continue to have short-term dips if US jobs and inflation reports suggest rates could rise, but the main trend will now be determined by global demand versus supply. What about the 2021-2025 war cycle? Well, recent elections around the world have produced a modest reduction in government war worship, but…

Given that most adults in America are armed, and given the eerie similarity of 2024 to 1864, gold bugs of the world need to be as open to a “big bang” ending to the 2021-2025 war cycle as to the fade that is indicated by other elections around the globe. The mayhem could create a parabolic move in the price of gold.

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