• Gold is highly benefitting from the fear and uncertainty in the market which is likely to persist
• Markets are again assuming a recession coming
• Banking sector latest dilemma is adding to the fear sentiment
• Rising interest rates, hard landing caused by FED continuous tightening policy along with signs of stagflation all add to the bullish price action seen in the commodities markets
• Added the VIX (volatility/fear index) below Gold chart to try and visualize any correlation between them
• Interesting to see that peaks in VIX index were usually accompanied by peaks and rallies with the Gold
• As we are approaching the all time high at 2070 with price currently just above 2000 I would like to add my own interpretation on that
• When Gold traded at 2070, VIX value was around 33
• We are only just above 2000 and the VIX is way lower than the previous higher level
• If current factors and sentiment persist in the market, we might see the VIX trading back towards higher levels, sending the Gold way higher than 2070
• Note that VIX is up almost 11% in a single day at the time of writing
Traders, if you like this idea please comment and like ✅
Here to answer all your questions,
Good luck
• Markets are again assuming a recession coming
• Banking sector latest dilemma is adding to the fear sentiment
• Rising interest rates, hard landing caused by FED continuous tightening policy along with signs of stagflation all add to the bullish price action seen in the commodities markets
• Added the VIX (volatility/fear index) below Gold chart to try and visualize any correlation between them
• Interesting to see that peaks in VIX index were usually accompanied by peaks and rallies with the Gold
• As we are approaching the all time high at 2070 with price currently just above 2000 I would like to add my own interpretation on that
• When Gold traded at 2070, VIX value was around 33
• We are only just above 2000 and the VIX is way lower than the previous higher level
• If current factors and sentiment persist in the market, we might see the VIX trading back towards higher levels, sending the Gold way higher than 2070
• Note that VIX is up almost 11% in a single day at the time of writing
Traders, if you like this idea please comment and like ✅
Here to answer all your questions,
Good luck
Ramzi Abou Abdallah, CFTe, CMT
♦️ Subscribe to my telegram channel for daily signals for free, link below:
♦️ t.me/accu_trading
♦️ Subscribe to my telegram channel for daily signals for free, link below:
♦️ t.me/accu_trading