Gold prices declined to the previous low set in September, forming a double bottom at around $1,620 per ounce. Prices bounced up from the support level and closed the week at $1,656.30 per ounce. If this support holds and prices continue upward, then this double bottom could prove to be a significant reversal formation. Also, we will continue to look for a breakdown in the U.S. dollar as a confirmation of the trend reversal. This reversal in gold prices and the U.S. dollar could be technically signaled sometime after the midterm elections. We may be entering a “Winter of Conflicts,” where major military, economic, and political battles will be fought: The war in Ukraine, the stagflation battle in the U.S. economy, and various conflicts arising over shortages of food and fuel in Europe and the global south. Gold may be a source of protection in these coming times. Rick Andrews is president of Avant Capital Management.