XAUUSD
Looks like ya basic 1,2,3 pattern on the Daily
Target is a nice round $2,500
Target is a nice round $2,500
- Gold may rise due to:
- Inflation hedge: Investors often turn to gold to protect against inflation, as it retains its value during periods of currency devaluation.
- Safe haven asset: Economic uncertainty and instability in the USD could drive investors to seek the safety of gold.
- Real interest rates: Low or negative real interest rates, influenced by inflation, reduce the opportunity cost of holding gold.
- Geopolitical tensions: Gold is seen as a reliable asset during geopolitical uncertainty, attracting demand from investors seeking stability.
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