Macroeconomic Overview
The Fed continues to increase interest rates, which creates downward pressure on the commodity markets.
But I think gold is the best long-term investment in the commodity market.
In general, the experts expect a rise in the commodity market for the next 3-4 months. However, we can see a decrease in the inflation data, as the commodity market experienced a decline after the FED rate hikes. But the important thing is that this decline is permanent and continuous.
Regardless, an interest income above inflation seems difficult for a long time.
Monthly Maturity
In our previous analyzes, we said that the 1680 level is a very important support. The price received a strong reaction from this support point.
We may see short-wave pullbacks, but I don't think the 1680 level will be broken. The next important resistance levels are 1875-1920.
It may be beneficial for you to examine other crossed gold parities.(XAUEUR-XAUGBP-XAUCHF-XAUJPY)
If we look at the XauGbp instrument here. The price has received a reaction from the full trend support. I think the price will continue to rise in the long run.
The Fed continues to increase interest rates, which creates downward pressure on the commodity markets.
But I think gold is the best long-term investment in the commodity market.
In general, the experts expect a rise in the commodity market for the next 3-4 months. However, we can see a decrease in the inflation data, as the commodity market experienced a decline after the FED rate hikes. But the important thing is that this decline is permanent and continuous.
Regardless, an interest income above inflation seems difficult for a long time.
Monthly Maturity
In our previous analyzes, we said that the 1680 level is a very important support. The price received a strong reaction from this support point.
We may see short-wave pullbacks, but I don't think the 1680 level will be broken. The next important resistance levels are 1875-1920.
It may be beneficial for you to examine other crossed gold parities.(XAUEUR-XAUGBP-XAUCHF-XAUJPY)
If we look at the XauGbp instrument here. The price has received a reaction from the full trend support. I think the price will continue to rise in the long run.
