We've been watching the price of #GOLD and monitoring the movements of price and detailing the manipulation that has been taking place recently. What we've found is that the "WAR" in Ukraine was used to fuel a move higher in gold causing a rally into the 2000's back in the start of the year, which eventually lead to investors buying, but from whom?
You guessed it, the greedy 🏦 BANKERS! Take a look below and you'll see that interestingly enough the bankers were fully loaded in long positions BEFORE the war even began.
When we examine the weekly chart of gold we can see that price has been ranging for some time now and considering that the bankers have been focused on closing their long exposure and because of some technical indicators which we've discussed in the past, we 🔮forecast a move lower is coming.
Recently, we noticed that retail traders were lured into going long #GOLD when the bankers were closing their longs, typical, and now we got a nice move lower.
Where to now, well i will just say this, an article came out on Zerohedge stating "Goldman's Mikhail Sprogis and his commodities research team believe a 'wealth shock' has subdued Gold's rally and raised their target price for the precious metal to $2500." Very interesting isn't it?
Considering everything we have learned about the bankers and the media and how they work together it wouldn't surprise me that this $2500 target will be used to get more investors buy gold when they plan to drop it.