"Gold is a hedge against inflation!"
You must have heard that. Everyone has. That's textbook doctrine. But, in reality, is it?
how has gold behaved since we have really started talking about inflation? Inflation has continued to rise, but gold has continued to...fall.
I saw a youtuber interviewing people around Wall Street asking them for advice with one young, well dressed man says to "buy gold!"
But gold actually works just like anything else. You buy it, price goes down, you lose money.
Gold is not behaving the textbook way. It is not acting like a hedge against inflation. It has not been a good place to store money when inflation is high.
We are currently 23 weeks into a downtrend. Price looks like it will continue down because Gold closed well below a very strong support.
Gold is EXTREMELY tradable. And, it should be traded. It's not a good place for parking money right now, but it is a great place to trade. However, I do feel that the current trading environment is tricky, money can be made and is being made.
Where will price go? I think there is potential for price to go to 1300 or 1200. I think from that point, there could be a bottom and a bullish run up to around 2000. This is just my opinion and idea.
But, what will gold do? While there is inflation, you can come out on top having a good trading plan.
All the best to you.
You must have heard that. Everyone has. That's textbook doctrine. But, in reality, is it?
how has gold behaved since we have really started talking about inflation? Inflation has continued to rise, but gold has continued to...fall.
I saw a youtuber interviewing people around Wall Street asking them for advice with one young, well dressed man says to "buy gold!"
But gold actually works just like anything else. You buy it, price goes down, you lose money.
Gold is not behaving the textbook way. It is not acting like a hedge against inflation. It has not been a good place to store money when inflation is high.
We are currently 23 weeks into a downtrend. Price looks like it will continue down because Gold closed well below a very strong support.
Gold is EXTREMELY tradable. And, it should be traded. It's not a good place for parking money right now, but it is a great place to trade. However, I do feel that the current trading environment is tricky, money can be made and is being made.
Where will price go? I think there is potential for price to go to 1300 or 1200. I think from that point, there could be a bottom and a bullish run up to around 2000. This is just my opinion and idea.
But, what will gold do? While there is inflation, you can come out on top having a good trading plan.
All the best to you.