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Gold and XAU Mining Index (Daily and Hourly chart)

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Post# of 1088

(Total Views: 430)

Posted On: 02/22/2021 3:18:09 PM

Posted By: solartech

Gold and XAU Mining Index (Daily and Hourly chart) signal the pull back from last August's high has ended and up trend has just begun, they will likely take out last year's high with gold price hitting $2,200 and XAU making new historical high one after another. A new gold rush is on. Inflation is expected to break out from the side way consolidation towards year end, any increase in interest rate by the Federal Reserves will stifle economic growth but will not stop surging inflation as it is caused by strong Chinese demand for commodities after resurrecting from the Corona Virus crisis as well as caused by global currency dilution, astronomical among of fiat paper money has been streaming out the printer around the world chasing finite natural resources among strong demands for natural resources from growing number of industries.

Rising interest rate is only effective in curbing domestic inflation caused by an overheated economy, but since the recovery from the 2008 mini-economic-depression there had been no upward wage pressure while economic growth and new jobs have peaked. So far only 50% of job loss in the Pandemic has been recovered. Increasing interest rate by the Fed will likely plunge the economy into another economic depression amid the Pandemic with the Corona Virus mutating into more contagious variants.

US Inflation rate
https://tradingeconomics.com/united-states/inflation-cpi

US new jobs number
https://tradingeconomics.com/united-states/non-farm-payrolls

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