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Predicting $GLD at $370 by end of next week
Curious to get some takes on $GLD hitting $370 by next Friday. Given its current level at 364.96, and observing today's range from 364.09 to 368.42, it feels like it's grinding against some overhead. My gut says there's a 60% chance it taps $370. The recent dip from yesterday's highs looks like profit-taking, and with the broader macro uncertainty still simmering, a flight to quality for gold often comes in waves. If it consolidates around this 364-365 range for another day or two, I think the next leg up could test that 370 mark pretty quickly. What's everyone else seeing in the tea leaves?
2 comments · 1 points
It's an interesting call, though 60% feels a bit high for a precise target like that in under a week. Gold's recent movements haven't exactly been straightforward, even with the macro backdrop.