Long
Gold new maximum
The conflict between the Russian Federation and Ukraine, from an economic point of view, has gone far beyond the aisles. The volatility of the commodity market during the days of the conflict was very high. And this is just the beginning! Because the consequences of this confrontation will be felt by the whole world for a long time to come. Even US indices started to fall. Although this is not surprising, because the US stock markets were very overbought and a collapse was inevitable. The only question left! According to what scenario everything will happen. But today we know the scenario. And of course, the raw material market in such a situation will be more attractive than the stock market. Especially the agricultural sector, which in both Ukraine and Russia was quite developed, and on which many countries depend. And of course, gold, which is often used as an asset as a refuge in unstable and crisis situations. Thus stimulating its growth. It is very likely that gold will hit a new all-time high this year. And it will probably exceed $3,000 per ounce!!!
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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.