Gold Price Power Move Could Be Beginning NowThere are so many stars lining up for Gold and Silver prices that the month of March could be beginning of the second major leg up in the gold price.
- Trump is going to laydown tariff's on steel. This will have a major impact on inflationary pressures to the millions that consume steel in the US. Bush put Tarrifs on steel back in 2002 and Gold took off shortly after that.
- Dollar looks like it is begining the next wave down because of a widening trade deficit and acclerating govt spending.
- Fed Reserve hikes rates on the 21st. Each of the last 5 hikes post meeting sent the gold price higher
- Fed Reserve ratcheting up QT to $30 billion a month starting in April or May. This QT will be the opposite of QE. Where QE was deflationary, QT should be inflationary.
- China launches the petro yuan on March 26th. This event should be adding extra pressure on the value of the dollar as the world takes another step off dropping the buck as reserve currency.
I posted some charts several posts ago showing that hte gold price hit resistance 3 times before breaking out on the 4 move. The 4th move is almost here. It is just a matter of days before it happens.