Gold… why not 2670$?
Getting right to the point, I don’t see why Gold should start descending.
Political instability in the Middle East and Eastern Europe have not settled. In the contrary. It escalates in the past 2 weeks proving no resolution is on the table yet.
Economically speaking, yes the federal reserve decrease the interest rate in the US but is this it??? Is this what gold need to go down ?? I think not. Gold is triggered most due to economic mistrust and increase in credit risk accompanied with political instability; and until this point in time we have all the risks you can think of having.
Therefore I don’t see gold going down this month, yet it will be doing new ATHs due to also increase in demand of gold due to lots of holidays in China and increased demand in the jewelry industry.
This is not a financial advise but rather my own opinion and idea. Don’t take my words and analysis into consideration when taking trades because it’s your own money not mine. You are responsible to allocate it in a wise way.
Political instability in the Middle East and Eastern Europe have not settled. In the contrary. It escalates in the past 2 weeks proving no resolution is on the table yet.
Economically speaking, yes the federal reserve decrease the interest rate in the US but is this it??? Is this what gold need to go down ?? I think not. Gold is triggered most due to economic mistrust and increase in credit risk accompanied with political instability; and until this point in time we have all the risks you can think of having.
Therefore I don’t see gold going down this month, yet it will be doing new ATHs due to also increase in demand of gold due to lots of holidays in China and increased demand in the jewelry industry.
This is not a financial advise but rather my own opinion and idea. Don’t take my words and analysis into consideration when taking trades because it’s your own money not mine. You are responsible to allocate it in a wise way.
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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.
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.