Gold Is Bottoming Out. Why You Shouldn’t Buy It Yet.

 Gold Is Bottoming Out. Why You Shouldn’t Buy It Yet.

Even though gold may have been replaced, at least temporarily, by Bitcoin as an inflation hedge, it appears to be bottoming out—finally. But according to the charts, it’s not yet time to buy the precious metal.

The weekly chart shows that gold broke out of a three-year base in June 2019. From its breakout, it surged 50% to its $2,075-an-ounce peak in August 2020. From that point, bullion declined to $1,680 in March.

But…

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