#GOLD - RALLY STILL FAR FROM THE END

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Briefly — I expect Gold to keep growing in the next couple of years, we are far from the end of the rally. Three reasons why:

- Safe Haven. Gold (and other metals which was recently proved) still act as the main safe heaven for retail, institutionals, banks (including CBs). The ongoing geopolitical tensions around the world make them allocating more funds to $XAU.

- Stocks. The stock market is extremely overheated (a quick look at the SPX 1Y chart makes it obvious). No significant correction since 2008, the 2022 pullback was only a bare minimum and clearly insufficient. RSI is now near critical overbought levels. Most likely we will see new highs on stocks in 2026 — but that will mark the cycle top. Add an AI bubble that is about to pop. The puzzle fits together. Rotation from stocks to metals has already begun.

- Crypto. The 10/10/25 crash was dramatic for crypto and its future. It pushed Bitcoin from "high risk" into "extreme risk" bracket. Altcoins are out of any measurement scale with some of them dumping -90% in one day. Crypto market needs huge reforms, one day I will cover that topic in a separate post. For now: Gold > Bitcoin. Sadly.

💰 Add up a weak DXY and you will clearly see that there are not many places where investors can allocate their money other than metals, primary $XAU.

My forecast: we will see XAU near $10,000 mark before 2029.

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