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After yesterday's sharp rise from 3238, spot gold continued to climb in the Asian market on Tuesday. The price of gold has now broken through the highest level of 3386 US dollars per ounce, and the daily increase is nearly 28 US dollars. At present, the price of gold remains close to the new record, and the rise is far from over. The global trade war has caused market concerns and continued to push the price of gold to new highs. Gold has become an asset for a new round of investment boom!
The market boom is coming, and the gold bulls are coming?
Banking giant Goldman Sachs released a bullish forecast report on gold, saying that if a recession becomes a reality, the gold price target will reach 3880 US dollars per ounce by the end of 2025. The forecast is based on the expectation that concerns about a recession will accelerate the inflow of funds into gold exchange-traded funds (ETFs), thereby pushing up gold prices.
In addition, Goldman Sachs warned that if the Federal Reserve loses its independence, the price of gold may soar to 4500 US dollars per ounce.
What do you think of today's gold trend!
Looking back at the current gold and silver, from the market point of view, the gold price trend has been stabilizing above the middle track, and the cycle bulls continue to line up. From the indicator point of view, the middle track has been hooking upward, and there is still room for an upward rebound in the short term. In addition, gold started from 3322 last week, and directly rose from 3322 to 3387. Now it is around 3367. So there is a point to pay attention to today, that is, the position of the middle track of 3334. It is still difficult to say whether it can be stepped back.
Don't expect a deep callback. The only difference between the oscillating market and the unilateral market is that the oscillation will come back, while the unilateral market will not. This is why we always emphasize the need to bring a good stop loss. In terms of the cycle rhythm, we have been participating in the cycle of time and space last week. At present, we can still participate in this pattern. There is one opportunity in the European and US markets. We will start at this time point during the day!
Gold: More near 3350, defend 40, and target the resistance of 3385-90! If it breaks below, wait for the two support levels of 3334-20 before considering!
After yesterday's sharp rise from 3238, spot gold continued to climb in the Asian market on Tuesday. The price of gold has now broken through the highest level of 3386 US dollars per ounce, and the daily increase is nearly 28 US dollars. At present, the price of gold remains close to the new record, and the rise is far from over. The global trade war has caused market concerns and continued to push the price of gold to new highs. Gold has become an asset for a new round of investment boom!
The market boom is coming, and the gold bulls are coming?
Banking giant Goldman Sachs released a bullish forecast report on gold, saying that if a recession becomes a reality, the gold price target will reach 3880 US dollars per ounce by the end of 2025. The forecast is based on the expectation that concerns about a recession will accelerate the inflow of funds into gold exchange-traded funds (ETFs), thereby pushing up gold prices.
In addition, Goldman Sachs warned that if the Federal Reserve loses its independence, the price of gold may soar to 4500 US dollars per ounce.
What do you think of today's gold trend!
Looking back at the current gold and silver, from the market point of view, the gold price trend has been stabilizing above the middle track, and the cycle bulls continue to line up. From the indicator point of view, the middle track has been hooking upward, and there is still room for an upward rebound in the short term. In addition, gold started from 3322 last week, and directly rose from 3322 to 3387. Now it is around 3367. So there is a point to pay attention to today, that is, the position of the middle track of 3334. It is still difficult to say whether it can be stepped back.
Don't expect a deep callback. The only difference between the oscillating market and the unilateral market is that the oscillation will come back, while the unilateral market will not. This is why we always emphasize the need to bring a good stop loss. In terms of the cycle rhythm, we have been participating in the cycle of time and space last week. At present, we can still participate in this pattern. There is one opportunity in the European and US markets. We will start at this time point during the day!
Gold: More near 3350, defend 40, and target the resistance of 3385-90! If it breaks below, wait for the two support levels of 3334-20 before considering!
Trade active
Gold prices are rising steadily, so our earnings are also stable.Trade closed: target reached
Gold is about to reach 3400
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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.
Our goal is simple, to provide the most professional guidance for free to help everyone make a profit
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.