Gold at 6y high- where is the limit?
Since last year Gold is up more than 22%, that is a massive move from $1269 to the current price at $1486.
Given the evident rising geopolitical tensions, traders become more sensitive to headline the risk. Even a small story could act as a catalyst for buying pressure in all safe havens.
After Trump announced more China tariffs and Chinese intervention in Yuan after that, and suspension in purchases in agricultural products from the US, gold has risen "just" 5%. Such a move is not something that we didn't sow before in gold and will not be the last time. The quest right now is what is next?
Is it possible to see gold at $1577 any time sooner?
Since last year Gold is up more than 22%, that is a massive move from $1269 to the current price at $1486.
Given the evident rising geopolitical tensions, traders become more sensitive to headline the risk. Even a small story could act as a catalyst for buying pressure in all safe havens.
After Trump announced more China tariffs and Chinese intervention in Yuan after that, and suspension in purchases in agricultural products from the US, gold has risen "just" 5%. Such a move is not something that we didn't sow before in gold and will not be the last time. The quest right now is what is next?
Is it possible to see gold at $1577 any time sooner?