The price of gold saw an increase during the first trading day of the week. According to market forecasts, the price of gold is currently in a secure zone and is expected to continue to rise. Many investors are turning to gold as a safe investment option due to growing concerns about the economic slowdown and the deadlock in negotiations on the US debt ceiling.
Recent economic data from the US has raised concerns about a possible recession in the next 12 months, causing traders to focus on gold as a viable alternative to other assets. The driving force behind the increase in gold prices is still the Federal Reserve's loose monetary policy, causing the dollar to depreciate.
Trading plan
BUY GOLD soup price range: 2007 - 2010
Stoploss : 2005
Take Profit : 2020 Take Profit : 2035
Note : TP, SL full to be safe and win the market !