Look For GOLD To 2700 | Macro View

Resurge in inflation? Bullish. Global rate cuts? Bullish. Geopolitical escalation? You get the point.

At the start of March if you remember we talked about how the “fair value” for GOLD was around 2300…

When GOLD Runs It Runs | And Crypto Too

Well…

Now it’s at 2380.

So what’s next?

Let me show you.

The macro context for GOLD:

A couple of days ago Goldmans upped their year end projection to 2700.

Yes, 2700.

Here’s the key snippet from their note:

In other words…

GOLD has a lot going for it at the moment.

From the geopolitical tensions.

To entrenched inflation in the US.

To central banks about to start cutting rates.

Now the question is…

Is that context about to change?

Not really.

The geopolitical context could start to improve, sure. But after that, there are still two other scenarios that are bullish for the precious metal.

Either a resurge in US inflation.

Or a global rate cut cycle.

Or both together? A resurge ONLY in US inflation keeping US rates higher while instead other central banks are forced to cut?

Also bullish.

With that in mind…

Look for GOLD to 2700.

Not much else to add.

Alright.

What do you think of that?

Reasonable target?

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