Gold still bullish until war situation changes. Expect gold above 2000 levels shortly as Iran is now wanting to become more and more involved. Hamas leaving Israel almost guarantees a wider spreading conflict in the Middle East. Gold will continue to see support. If conflict spreads and lasts deep into 2024, the fed could cut rates at the same time propelling gold to new ATHs.
Comment:
As expected gold pushed over the 2000 mark shortly after this post. The Israel hamas war has taken a new turn for the worst. Iran is increasing involvement and Israel is finally moving into the ground offensive, albeit slowly. Safe haven inflows have skyrocketed into the weekend. Market expecting more bad news going into next week.
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