Baskadia

My official forecast is that Federal Reserve starts the printing press sometime in the second quarter of 2024.

Back in 2019, gold rallied 23% within 3 months until early September as Fed was shrinking its balance sheet (BS). When Fed actually started expanding its BS early September, gold had already made a nice rally and entered a 3-month long consolidation. As a matter of a fact, gold was declining as Fed was monetizing government debt in the early stage - how crazy is that? Thereafter, gold rallied over 40% until summer of 2020.

So expect gold to trade around - 2,400$2,300 when Fed starts the printing press this time around April - May of 2024. Gold may enter into a multi-month consolidation during summer and reach my $3,000 target by the 4th quarter of 2024...

https://icmarkets.com/?camp=70520