Gold adjusted for M2 velocity yields some interesting observations.. still not quite sure of thesis.. need more digging

We are NO WHERE close to a top… we are just completing a higher low on the monthly chart…

I’m thinking if money velocity picks up… this could rocket fuel gold ascension! Yet.. something doesn’t seem right…

EDIT: Wait… that is gold adjusted for M2 money supply (updated chart). The bottom indicator is still Velocity. I’ll let that marinate in my brain and see how this all makes or doesn’t make sense.

Adding the chart for gold NOW adjusted with M2 velocity. We are approaching ALL-time highs.