Gold continued to show growing demand as the market falls deeper into inflation.
Inflation-related economic data from manufacturing PMI down to retail sales are printing fresh high where some were making history.
Gold, for many centuries, has been the best storage of value and most regarded safe-haven asset in times of fast-rising inflation.
The price managed to break and close just above the equilibrium level of 1850, reaffirming gold's bullish trend.
This week, we expect the gold price to continue climbing with potential jumps straight towards into the1950 supply zone.
However, not to exclude the possibility of a sudden pullback, should gold fails to gain enough traction and falls, we will watch 1800 for another buying opportunity.
Inflation-related economic data from manufacturing PMI down to retail sales are printing fresh high where some were making history.
Gold, for many centuries, has been the best storage of value and most regarded safe-haven asset in times of fast-rising inflation.
The price managed to break and close just above the equilibrium level of 1850, reaffirming gold's bullish trend.
This week, we expect the gold price to continue climbing with potential jumps straight towards into the1950 supply zone.
However, not to exclude the possibility of a sudden pullback, should gold fails to gain enough traction and falls, we will watch 1800 for another buying opportunity.
