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Gold Price Target: Measured Move Signals near $3,000/ounce

Gold has soared in 2020 as the printing of money continues on a central bank level (globally) and a Federal level. With trillions being printed in stimulus by the US Government and the Federal Reserve expanding their balance sheet over $5 trillion this year, it should be no surprise gold is soaring. The question is, what is the gold price target in the next few years? The answer can be found in the charts using a measured move tactic. To do this, look at the last epic move that start in gold in 2001. Between 2001 and 2011, gold surged from approximately $260 to $1,920, a $1,660 move. Using the measured move, take that $1,660 and add it to the recent start of this latest bull move at $1,200. This gives a target of gold of $2,860. While the first move came over the course of 10 years, this move will likely occur in just 2-3 years. Why? Because you have to factor in the incredible increase in money supply not only since the financial crisis in 2008-2009 but the epic increase even above that in 2020 due to the Covid-19 pandemic. This will increase the velocity by at least 3-4x, shortening that target price and giving us 2-3 years. What we are witnessing is an incredible printing of money period and there is no way to stop it as debt payments mount. The currency must be devalued. This is incredibly bullish for gold.

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Gold price target seen below…