Sep. 30 at 3:35 AM
$GLD $PHYS $B $NEM $AEM Gold is EXTREMELY overbought, with RSI now over 90. A pullback is almost certain.
The last time the RSI was this high was in Q4 1979, leading to a blow off top in Q1 1980 followed by a multi-decade long bear market.
However, macroeconomic conditions are much different now. There is very little reason for institutional capital to hold USD and central banks have been on a historic buying spree since the onset of Covid.
Global debt is at an ATH, the dollar has lost 95%+ of its purchasing power, and govt's around the world (most notably the U.S.) will continue to fund deficit spending until the inevitable debt spiral and collapse of the global economy.
What I believe transpires next is a blowoff top coming into Q1 2026 similar to 1980 pushing gold to
$4,200-
$4,400/oz, followed by a 2-3 consolidation period and measured move to
$6,400/oz (late 2028).
What are your thoughts? You think i'll be correct or you think Gold continues to go vertical from here? 🤔
