Why Gold's Long-Term Trend Is Still Up

The Looming Stagflationary Debt Crisis

Gold last traded at $1,796 an ounce. Silver at $26.16 an ounce.

NEWS SUMMARY: Precious metal prices rose Tuesday on rising oil prices and mixed economic data. U.S. stocks traded mixed as investors pondered the impact of rising inflation on the economic recovery in the second half of the year.

Forbes--"After a brief surge over $2,000 per ounce last summer...basic technical analysis shows that gold'ss long-term trend is still up....

Gold's uptrend that began in early-2019 is still intact because the metal remains above the uptrend line that formed at that time. Gold's weak, choppy performance over the past year has created a consolidation pattern that could have bullish implications if the metal is able to stage a convincing breakout above the pattern.

Gold's monthly chart shows that an even longer-term uptrend that began in the early-2000s is still very much alive....

Though many pundits are souring on gold in favor of more exciting performers, gold still has long-term technicals and fundamentals on its side. From a fundamental perspective, global governments and central banks continue to gorge on debt and print astounding amounts of paper money, which is a trend that will not end any time soon now that the global economy is so hopelessly addicted to stimulus.

The inevitable dilution of the value of paper money can only benefit hard assets such as gold and silver in the long run."