Long
Buy Gold and hold
Updated
Nice entry yesterday on gold at $1790 for me, I took the day trading profits at $1810 but have re-entered today after a nice close yesterday. Stop at around $1780.
The way I see it, inflation has peaked and the dollar will sell off the rest of the year. That's great for gold as a hedge and with the fed taking a more measured approach rather than ultra hawkish thats good for equities as well. Normally we would expect gold to not do so well if equities are pumping. I don't see equities moving rapidly up though more a measured grinding slowly rise with ongoing worries from the fed about inflation until they eventually take out ATH's again. That should prove good for gold as a nice hedge and I expect we will see $2000 again for gold.
Nice rising triangle here on the charts to for those into TA and a lovely buy below the 200 daily moving average. All in all a good enough trade here to go long on gold and hold.
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The way I see it, inflation has peaked and the dollar will sell off the rest of the year. That's great for gold as a hedge and with the fed taking a more measured approach rather than ultra hawkish thats good for equities as well. Normally we would expect gold to not do so well if equities are pumping. I don't see equities moving rapidly up though more a measured grinding slowly rise with ongoing worries from the fed about inflation until they eventually take out ATH's again. That should prove good for gold as a nice hedge and I expect we will see $2000 again for gold.
Nice rising triangle here on the charts to for those into TA and a lovely buy below the 200 daily moving average. All in all a good enough trade here to go long on gold and hold.
Leave a like if you agree
Note
Gold now back to entry after inflation spiralled all year, lets see whether we can finally get that sell off in the dollar and the gold move to $2000Trade closed: target reached
Out of gold here now at $2000. Happy to see what happens next
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