Gold in a hold pattern…

I will do a technical and fundamental analysis today. First, technical, as we see we have an expected pull back to the 50 on the previous major move up. We have bounced off the 200 day SMA. The expected target is looking good. We need to have a solid break above the psychological level of $2,000. Now, fundamental, bonds are falling, Fed is collapsing the dollar to bring in the CBDC, more countries are ditching the dollar and conducting international trade deals in national currencies. Bonds and Treasuries are falling as inflation pressures continue. As I write this, there is nothing the Fed can do to stop the collapse of the dollar. They are doing a controlled collapse so they can implement the CBDC, as seen by the severe rise in interest rate hikes over the past year. The Inflation Reduction Act will cause inflation to rise even further. Countries like India are now conducting international trade using their own currency. They are ditching the Dollar and working out deals to make payments in National Currencies, further weakening the greenback. Overall, I’m holding firm, just waiting for the Fed to crash the cash.