Pressure from interest rate hikes causes gold to drop
Prolonged inflation, still high interest rates, bank failures and "hard landings" are still the top concerns of hedge funds
① Major US hedge funds and family office investors warned on Wednesday that despite the resilience of the US economy, the possibility of a recession and more bank failures remain in a persistent inflationary environment.
② Stanley Druckenmiller, an American investor and Chairman and CEO of the Duquesne Family Office, said he still expects a hard landing for the US economy – a scenario in which the Fed raised interest rates and pushed the economy into recession.
③ "I think the odds suggest that Silicon Valley Bank, Bed Bath & Beyond may be just the tip of the iceberg," he said, referring to the fall of Silicon Valley Bank and bankruptcy. of home furniture retailers.
From the above reasons, it is likely that gold will drop sharply
GOLD SELL 1966 - 1970 💯💯
✅𝖳𝖯1 1960
✅𝖳𝖯2 1955
✅TP3 1950
🛑𝖲𝖫 1975
① Major US hedge funds and family office investors warned on Wednesday that despite the resilience of the US economy, the possibility of a recession and more bank failures remain in a persistent inflationary environment.
② Stanley Druckenmiller, an American investor and Chairman and CEO of the Duquesne Family Office, said he still expects a hard landing for the US economy – a scenario in which the Fed raised interest rates and pushed the economy into recession.
③ "I think the odds suggest that Silicon Valley Bank, Bed Bath & Beyond may be just the tip of the iceberg," he said, referring to the fall of Silicon Valley Bank and bankruptcy. of home furniture retailers.
From the above reasons, it is likely that gold will drop sharply
GOLD SELL 1966 - 1970 💯💯
✅𝖳𝖯1 1960
✅𝖳𝖯2 1955
✅TP3 1950
🛑𝖲𝖫 1975
Comment:
+60 Pips Move SL to entry ✅ ✅
