XAU-USD: a Mid Term LOng
In the mid-term trade outlook, gold's trajectory appears poised for further gains, with targets set at $2200 and $2300. The anticipation of a potential U.S. recession by late 2Q, coupled with concerns surrounding persistent housing and services inflation, continues to drive investor interest towards gold as a hedge against economic uncertainties. Additionally, the market sentiment favors gold as a risk-off and macro-overlay hedge, especially amidst geopolitical tensions and monetary policy uncertainties. These factors, combined with technical indicators suggesting bullish momentum, support the expectation of gold prices reaching $2200 and potentially $2300 in the mid-term, as investors seek safe-haven assets to navigate through volatile market conditions.
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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.