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Gold is at the US$2,000 per ounce level once again, and Omar Ayales of Gold Charts R Us believes higher prices are in store for the yellow metal. He believes gold moves in seven to eight year cycles, and said the next peak is set to occur in 2026 or 2027.
“What this cycle is telling us is not only that gold reaches a bottom every seven years, (but also) that after it reaches a bottom it goes into an 11 year uptrend to reach a high. So every bottom precedes an 11 year move,” he explained.
This interview was filmed on November 21, 2023.
#Investing #Economy #Gold
0:00 – Intro
0:28 – Omar’s work at Gold Charts R Us
1:41 – Gold moves in seven year cycles
7:13 – Resistance and support for gold
10:34 – Rates to stay higher for longer
17:38 – Gold price vs. inflation and rates
23:01 – Inflation and recession outlook
26:45 – What should investors do?
29:52 – Outro
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The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
