I’m sure this bull rally would be a concern for gold investors but the shorter term we could be heading to a wave 2 bottom in Primary degree. It’s the US dollar that will drive any gold bullish phase, not a bunch of emotional investors running to a safe haven asset class. This may work short-term but long-term deflation is the real threat, which means that the US dollar bull market is far from over, as I expect 5 waves up in Primary degree, which could take until 2041 to peak out. In 2008 the USD bottomed, so 30 years from 2008 could get us a peak in 2038.
This move may be too early for a wave two peak in Minor degree, so I have reduced the degree level, by one degree. Gold will benefit from a US dollar decline, but this may only last until late 2019 or early 2020.
Those that ignore the ongoing “Boomer Crisis” and the huge demographic shift, will not understand the deflation that is coming. How much money a nation prints, has nothing to do with “deflation” or “nflation”, but it all has to do with the “velocity” of any money.
If you think that 10,000 from 80 million + boomers retiring per day is inflationary then, I suggest you research it, as it is a worldwide problem. Boomers that have not moved away from the risk facing them, will lose the majority of their assets if they invest for the long term.