Gold’s one-sided long-term scenario (Aug. 24, 2022)

This is a long term chart and maybe too irrelevant to traders. I am just pointing out that a clear break to new yearly lows would confirm a major double top on the weekly, down from the all time highs. Given everybody’s focus on the fight with inflation, as well as the theoretical gold inflation hedge, the next few months will be very interesting as regards to the relationship between the two.

Disclaimer> This post is informational only. It is not trading or investment advice! Financial markets are inherently risky. Manage your position size and honor your risk decisions that solely you are responsible for!