Gold is a long-term asset typically inversely correlated with the US dollar and is currently experiencing a gradual increase in value, with recent mentions highlighting a 2.15% uptick for the week and a 3.5% rise overall. It is often compared to other assets for its volatility, yet some caution against investing in gold, citing its lack of real economic value and the perception of it being a distraction. Additionally, gold is seen as an asset being accumulated amid concerns over sovereign debt, while its supply flexibility is noted in contrast to more volatile assets like silver.
“I mean, pretty classic setup right here on really just gold in general. Like I feel like the just the regular gold chart if you pull up like GLD like even on like the monthly was just like a beautiful beautiful technical setup here like essentially like that perfect like uh cup and handle setup.”