THE GOLD RUSH (shooting up) - Why? And how can I get involved?
Updated
Gold is setting record new highs with no sign of slowing.
This is due to gold being a "safe heaven", e.g when there is uncertainty in the market, large investors move to safer options such as resources with limited availability. This is because due to there only being a certain amount of gold on earth at any given time it always retains value. Gold being the favourite.
Due to the Corona virus large uncertainty in many countries currency has impacted the market.
So how can I get involved and make some profit?
We know fundamentally gold is long, so now to the charts for the technical's.
Looking back on the WEEKLY we can see there is no real structure to slow down the price of gold, so go long on the pullbacks or break of new highs.(Basic trend trading skills required, just have a search online it's fairly simple to learn).
High impact corona virus news will fuel the move upwards, but also be weary any news that stabilises the market will make gold plummet.
Fun fact: Did you know if you collected all the worlds gold and made it into a cube, you could have an approximate 20m x 20m x 20m cube that would fit under the Eiffel tower!
Get gold, not Corona!
This is due to gold being a "safe heaven", e.g when there is uncertainty in the market, large investors move to safer options such as resources with limited availability. This is because due to there only being a certain amount of gold on earth at any given time it always retains value. Gold being the favourite.
Due to the Corona virus large uncertainty in many countries currency has impacted the market.
So how can I get involved and make some profit?
We know fundamentally gold is long, so now to the charts for the technical's.
Looking back on the WEEKLY we can see there is no real structure to slow down the price of gold, so go long on the pullbacks or break of new highs.(Basic trend trading skills required, just have a search online it's fairly simple to learn).
High impact corona virus news will fuel the move upwards, but also be weary any news that stabilises the market will make gold plummet.
Fun fact: Did you know if you collected all the worlds gold and made it into a cube, you could have an approximate 20m x 20m x 20m cube that would fit under the Eiffel tower!
Get gold, not Corona!
Trade closed: target reached
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.