đđŚGOLD- Updated Mega Chart âđĽâTime to Buy?
Gold has had losses (reasonable ones as we are approaching Rate Hikes) but we do see HUGE support levels being checked very soon (if not now).
Professor is going Long. What to you think fellows?
News:
Meanwhile, benchmark US 10-year Treasury yields saw a slight bump with the anticipation of a Federal Reserve rate hike this week, adding further pressure to the non-yielding bullion.
While there is a risk-on mood across major markets, âI wouldnât call this (the recent rally) the peak in gold just yet, because this (Ukraine) situation is still uncertain. Itâs so fluid,â Julius Baer analyst Carsten Menke told Reuters.
Short-term speculative traders who bought gold due to the war were now possibly booking profits, Menke added.
Elsewhere, palladium had a more dramatic drop as concerns of a supply shortage eased. The precious metal used in catalytic converters was down 11.8% to $2,412.84 per ounce, after recently hitting record highs.
âPalladium over-reacted in the first place,â StoneX analyst Rhona OâConnell said. âThe rally weâve seen has been built on straw, rather than on concrete.â
There was no clear supply disruption and very little industrial demand, she added.
One Love,
the FXPROFESSOR
Professor is going Long. What to you think fellows?
News:
Meanwhile, benchmark US 10-year Treasury yields saw a slight bump with the anticipation of a Federal Reserve rate hike this week, adding further pressure to the non-yielding bullion.
While there is a risk-on mood across major markets, âI wouldnât call this (the recent rally) the peak in gold just yet, because this (Ukraine) situation is still uncertain. Itâs so fluid,â Julius Baer analyst Carsten Menke told Reuters.
Short-term speculative traders who bought gold due to the war were now possibly booking profits, Menke added.
Elsewhere, palladium had a more dramatic drop as concerns of a supply shortage eased. The precious metal used in catalytic converters was down 11.8% to $2,412.84 per ounce, after recently hitting record highs.
âPalladium over-reacted in the first place,â StoneX analyst Rhona OâConnell said. âThe rally weâve seen has been built on straw, rather than on concrete.â
There was no clear supply disruption and very little industrial demand, she added.
One Love,
the FXPROFESSOR
đ BitMart VIP: bitmart.com/invite/FxProfessor/en-US â Find details on fxprofessor.com
đ CRGPT Token: Join the Crypto AI Revolution cryptogpt.io/
đ Public Telegram: t.me/fxprofessor88
đ CRGPT Token: Join the Crypto AI Revolution cryptogpt.io/
đ Public Telegram: t.me/fxprofessor88
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.