GOLD - Turn up strongly again
Gold continues to hold promise for long-term growth, especially considering that the top economy cannot sustain its current tightening measures indefinitely.
Additionally, gold remains steady at a critical psychological support level of 1,935 USD/ounce. Historically, demand tends to rise when gold approaches this level. There is also speculation that the price of gold could potentially reach 1,955 USD/ounce in the near future.
Additionally, gold remains steady at a critical psychological support level of 1,935 USD/ounce. Historically, demand tends to rise when gold approaches this level. There is also speculation that the price of gold could potentially reach 1,955 USD/ounce in the near future.
Note
The gold market continues to have a strong uptrend and has touched the level of 1947 USD/ounce.Note
The closely watched personal consumption expenditures (PCE) price index in the second quarter rose 2.5% from the first estimate of a 2.6% increase.Note
Stopping interest rates will help the USD sink further, this is an opportunity for investors to buy gold.
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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.