Gold Forecast – Gold Price Breakout Over Higher Inflation

Gold Forecast – Gold Price Breakout Over Higher Inflation

Money flows may be turning to precious metals to hedge. Gold could reach new highs in the coming weeks, in my opinion.

Follow Up: Gold finished Friday above the October high and confirmed my outlook. Today’s breakout above $1840 (bottom chart) supports a strong run for precious metals. Throw in some easy money liquidity, and we could see fireworks over the coming weeks.

Gold prices are approaching critical resistance around $1840. An upside breakout in the coming days would be bullish, in my opinion. Failing to break out above $1840 will keep prices stuck in consolidation.