Gold is in a near-term bearish consolidation, likely to test support at $4,576 and possibly $4,300, but long-term bullish due to currency debasement; pullbacks are buying opportunities.

Next up into gold, guys. Gold has been um uh the inflow of capital has seen a ton of inflow of capital, mainly because of the currency debasement trade with percent, basically um artificially saving the yield curve.

And in doing so, what that is what that what happens with that is that folks fear that they're going to have their fiat currencies, thus the US dollar, devalued with this sort of maneuvering to artificially maintain and and lower that yield curve.

So, that's what's really kick-started some interest in gold last week, pushing gold up through these previous levels of resistance, which are now support isolated on your screen.

And now we're starting to settle out right on top of $4,575.

If I zoom into the hourly time frame, you can see this pivot that occurred here on Monday. This Since that point, this Monday pivot at 8:00 p.m., this is all hourly bearish consolidation.

So, yes, we are consolidating up here, but this is in a bearish manner for the near term on the hourly time frame, implying we're likely you're going to have price come back down and test at least this $4,576 dollar level of support before we push up higher on the chart.

So, be looking for a near-term drop in gold. And if this level breaks at support, we're coming all the way back down here to $4,300 on the chart. So, something to be mindful for gold.

However, I just see what's going on now where the devaluing of our currency is certainly increasing the opportunities and increasing my interest into the precious metals far so before I believe that they should have bottomed near the $3,500 level, especially on gold.

But, we haven't gotten there yet. Got to kick-start with our government helping to push up the price of gold. So, any sort of pullbacks in my opinion are buying opportunities for gold on the long haul.