On the one hand, there is the larger faction, which sees gold falling to $ 1,000 or lower. On the other hand, there would be those who still see gold in a correction and are more likely to see a breakout upwards.
Break-in for better cards
Fundamentally, those who bet on a break-in would have the better cards. On the one hand, the recent turmoil on the capital markets has lost so much wealth that investors are more likely to invest what is left in stocks rather than gold. On the other hand, deflation threatens – and cash remains king here. Gold would then continue to suffer just as much as other asset classes. “But there were already arguments for the financial crisis,” Markus Bußler recalls. And at that time, gold was the first asset to rise again. The deflationary shock is there – the oil price slide also contributed to this. But the numerous measures taken by the central banks would also have the goal of boosting inflation again. “It will certainly be exciting to see whether it will work,” says Markus Bußler. However, this market is fundamentally difficult to access anyway, since nobody knows how to proceed. And in terms of chart technology, there are still some indications of an – extensive – correction.